Security News > 2020 > June > Industry leaders join forces to launch PayID, a universal payment ID

Leading technology, finance and nonprofit companies join forces to announce the launch of PayID, a universal payment ID to simplify the process of sending and receiving money globally - across any payment network and any currency.

GoPay, Ripple, Blockchain.com, BitPay, Brave, Flutterwave, Mercy Corps and others have collaborated on the development of PayID through the Open Payments Coalition, a multinational alliance of industry leaders.

With support from companies across industries, PayID is the first global solution to address the biggest pain point in payments, uniting the many, closed payment networks that exist today.

PayID allows individuals to send and receive money across any payment network using an easy-to-read address versus one that's awkward and unintuitive - such as a bank account, routing or credit card number.

Whether a bank, payment provider or processor, digital wallet, or remittance provider, PayID is designed for any business that sends or receives money.

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