More than 40 different fintech firms, digital currency companies, and nonprofits are teaming up to launch a universal payment ID in a bid to make transferring money akin to sending an email.
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Coalition including Ripple, GoPay launches universal PayID
Overall, it is part of an even larger effort to spur the adoption of digital payments across the world and “break down the proprietary silos and standards that exist in payments,” the group said in a press release. “The international, cross-border payments industry has been ripe for disruption and we see PayID playing a pivotal role in achieving that,” Gaurav Dahake, CEO of BitBNS, said in the release. “We are excited to facilitate borderless, frictionless instant transactions for free for users.”
