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Travel Rule Compliance

PayID is built to be a simple and flexible extension of existing payment networks, making it best-in-class in compliance messaging — such as Travel Rule and AML.

Learn More about Travel Rule in crypto

Benefits of Using PayID for Travel Rule

Simplicity

PayID uses existing web standards and infrastructure that companies already run on.

Compatibility

PayID works across jurisdictions — without a patchwork of central registries.

Privacy and Security

PayID uses existing web security procedures, does not expose service addresses and allows for real-time management of addresses.

Neutrality

PayID is decentralized and agnostic to payment rail.

PayID Composability and TRISA Integration

PayID can simplify any compliance solution by providing a direct connection between the transacting parties from the start.

PayID is working together with TRISA to deliver a turn-key Travel Rule solution for crypto. This integration will enable any VASP to fulfill their reporting and screening obligations, whether a transaction is sent to a PayID or an on-ledger address. PayID supercharges an already strong solution by providing increased efficiency and enhanced privacy - an ideal match.

Free and open source

Built on proven tech

Designed for interoperability and scalability

How Travel Rules works with PayID

Step 1

Initiate Transaction

The originating user, Alice, instructs her custodial wallet, VASP A, to send a transaction to the beneficiary user, Bob, to his PayID, bob$vaspb.com, provided by his custodial wallet VASP B.

Step 2

Kick off PayID Handshake

VASP A initiates a secure HTTP connection with VASP B through the PayID URL. This kicks off the PayID handshake that determines whether Travel Rule applies to this transaction.

Step 3

Counterparty Indentification

VASP A and B exchange information about themselves per the TRISA standard and determine whether Travel Rule applies based on their compliance requirements and the transaction data.

Step 4

Exchange Travel Rule Payload

VASP A sends a signed Travel Rule data payload to VASP B via the TRISA protocol. This payload can conform to FinCEN, FATF, or other regulatory standards.

Step 5

Beneficiary Institution Reviews Payload

VASP B reviews the Payload and sends either authorization to proceed with the transaction, including the PayID to address mapping on the desired network or a rejection.

Both institutions are free to implement any compliance policy they desire at any point.

Step 6

Transaction Execution and Receipt

If the VASP A receives an authorization, it executes the transaction and sends a proof-of-payment message to VASP B.

Otherwise, VASP A drops the transaction.

Other Extensions for PayID

Charity

Simpler to donate money to your favorite organizations.

P2P Payments

Simpler to pay back your friends and family.

Digital Identity

Simpler to know who you are paying.

Getting Paid

Simpler to earn a living.

Commerce

Simpler to get the things you need.

Invoicing

Simpler for your business to get paid for what it makes.

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