Payments Should Be Easier
Today, we can instantly send a photo, message or video to billions of people and businesses around the world from a phone, laptop or even through smart-homes. Yet, simple and fast payments are still not possible.
Unlike email and text SMS, where there is a single network for the entire world, the payments infrastructure consists of hundreds of isolated networks that don’t speak to each other. Imagine how many fewer text messages each of us would each send if messages couldn’t be sent between mobile providers.
If sending a payment were as seamless as sending an email, we would all send more payments quickly and easily around the world.
Tomorrow’s Payment Network Will Be Open
In the near future, a single, global payment network will enable anyone to easily pay any other person or business instantly. Everyone, everywhere will tap into the power of this network dozens of times a day, sending payments both large and small. Payments won’t run over fragmented networks using proprietary standards to complicated account numbers, but rather, will use a united network in which all payment companies participate and is built for today’s consumers and businesses.
PayID is the Universal Payment Identifier
PayID creates a common protocol that allows for interoperability between payment networks. PayID is a free and open standard, allowing for truly organic growth where no single company can control or set the terms for joining. This solution is built around people, replacing complex account numbers with simple names that are easy to understand, remember and even type.
Backed by industry leaders from technology and finance, PayID is just the beginning of the open global payment network. It works across any payment network or currency—be it fiat or digital. A payment network that unites everyone around the globe is incredibly valuable for every participant. An open network built on open standards and open source enables innovation and growth for everyone. Just like the creation and widespread adoption of the internet and mobile phones, PayID drives payments forward, simplifying global payments for all and bringing us one step closer to a world where money moves as easily as information.
Other Extensions for PayID
Simpler to donate money to your favorite organizations.
Simpler to pay back your friends and family.
Simpler to know who you are paying.
Simpler to earn a living.
Simpler to get the things you need.
Simpler for your business to get paid for what it makes.