Bitstamp supports the launch of PayID to simplify global payments

One of our main goals at Bitstamp has always been to give our customers the freedom to control what forms of money they use and to transfer it easily to anyone in the world. We’ve now joined a coalition of more than 40 leading companies across tech, finance and the non-profit sector to launch PayID – a new standard for global payments that makes sending money as simple as sending an email.

PayID can be enabled by any business that sends or receives money — whether a bank, payment provider or processor, digital wallet, or remittance provider. Implementing PayID makes it possible for businesses to access more networks, consumers, and currencies to expand their businesses globally.

With PayID, people have a simple ID that’s easy to remember - similar to an email address - so they can send money to friends and family, not a routing number. PayID allows you to send and receive money across any payment network, in any currency. It is a free solution that is simple to integrate and open for anyone to use.

As part of the 40+ company Open Payments Coalition behind the new service, Bitstamp joins a pool of businesses that reaches over 100 million consumers worldwide. We believe PayID presents an exciting opportunity to break down the barriers that currently exist in payments and change the way money is sent around the world. Cryptocurrencies have always followed that goal and now we’re embracing this chance to further strengthen our connection with traditional finance, to the mutual benefit of both businesses and consumers worldwide. For more information, go to www.payid.org.