Ripple demonstrates the power of PayID in a testnet

Payment solutions company Ripple has released the first results of its integration with the Open Payments Coalition (OPC), which is integrated with web application ChefXRP. A PayID hackathon for developers will award $25,000 in prizes. The alliance, announced on June 18 this year, consists of more than 40 members, including global corporations and non-profits.The OPC launched PayID, which integrates with Ripple's web app and XUMM banking app.

According to Xpring’s blog, the ChefXRP web application will demonstrate the power of using PayID in a subscription payment flow on a trial network. To use the web app, developers must download the Xumm banking application. After installing it, developers must configure it to find an address in the XRP Ledger of the test network. Developers should go to the Settings option, then Advanced, and in that option go to node and select the test net option.

The ChefXRP web application can be used to create subscriptions and payments will be processed with Xumm. To do this users must log in to the ChefXRP website with their Pay ID and click on the subscribe button. The website will generate a QR code that users can scan to approve the transaction from their phone. The user can then accept the payment and even modify or cancel the purchase/subscription. Finally, users will be notified in the Xumm application and will have the option to accept or deny the payment.

As reported by CNF, PayID is a universal payment identifier, a free standard and open protocol that allows interoperability between different payment networks. This protocol allows the user experience to be improved when sending or receiving a payment. When making a transfer, the user receives a standardized address with a certain format. This simplifies a process that usually involves long account numbers, different software, routing numbers, or long addresses of crypto wallets.

When announcing the launch, Ripple’s investment arm, Xpring, issued an invitation to all developers who are “inspired” by the application. Xpring said:

Developers inspired by this demo, can sign up for the PayID Hackathon, where there will be over $25K in prizes awarded to the winners. It will be interesting to see what other applications will come up.

Author : Reynaldo