All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- Ripple launched the web application ChefXRP which incorporates invoices and subscriptions with the free and open standard PayID.
- There will be a PayID Hackathon for developers who can to enter for a $25,000 prize.
Payment solutions company Ripple has released the first result of its integration into the Open Payment Coalition (OPC) with the web app ChefXRP. The Coalition was announced on June 18 this year and is comprised of over 40 members including global corporations and non-profit organizations. The OPC introduced PayID which is integrated with the web app launched by Ripple and the XUMM banking application.
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.
Ripple demonstrates the power of PayID in a testnet
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. As shown in the image below, 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.
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.
