What is PayID?
A group of top IT, financial, and charitable organizations, including GoPay, Ripple, Blockchain.com, BitPay, Brave, Flutterwave, and Mercy Corps, founded and developed the
PayID payment system. This payment option is also available from NAB, one of Australia’s four biggest institutions. This proves PayID’s reliability, security, and safety, all of which have undergone extensive testing.
What distinguishes this approach from others, and what makes it so well-liked? Since you can transfer or receive money using just a phone number, email address, or company number (ABN) rather than a personal account number, this is the most obvious difference. Even while you can’t verify the recipient’s or your own account number, a phone number or email address is easier to remember than a long account number, which simplifies and eases transactions.