- The San Francisco-based ripple said this week it plans to help launch its PayID after joining a group of global companies and non-profit organisations.
- This would mean the company is now part of the open payments coalition that will debut PayID which will help people all around the world.
The company behind the XRP token, the San Francisco-based ripple said earlier this week that it plans to help launch its PayID after joining a group of more than 40 global companies and non-profit organisations.
This would mean that the company is now part of the open payments coalition that will debut PayID which will help people all around the world to easily pay a person or business and will also utilise any kind of currency. This will include things like Fiat and cryptocurrency. PayID will be a single global payment network and will give anyone across any network debility to send payments whether they are big or small.
This newly formed coalition includes several big names throughout the crypto space including Brave, Ripple, Mercy Corps, and BitPay.
According to my blog post published on the 18th of June, “Payments will no longer run over fragmented networks using proprietary standards to complicated account numbers; but rather, they will use a united network in which all payment companies participate—one built for today’s consumers and businesses.”
One of the main benefits of PayID is in order to make sending money to family and friends an easy process such as sending an email or a text message.