You can use PayID for receiving and sending funds at GateHub. To be able to receive funds by using PayID, you will need to create your PayID.
You don’t need to create your own PayID to be able to send funds by using PayID.
Send funds with PayID
- Go to “WALLET” on the left menu.
- Select the wallet you want to send funds from (blue drop-down menu at the top left).
- Click "Send Payment".
- Select "PayID" for XRP Ledger IOU/XRP transfers - Enter your GateHub password if requested.
- Type in a PayID you wish to send to.
- Enter the amount you wish to send.
- Click "Continue".
- Verify that you accept the fees and amounts transferred and confirm the payment.
In the initial phase, you will be able to send XRP to PayID. We are planning to support other currencies and networks for PayID in the near future.
How does it work?
A PayID is a human-readable identifier for all payments. One PayID can represent addresses on any network. At GateHub, a PayID represents an XRPL address.
This means that you will be able to use a PayID to send payments to any network that PayID will support.
When a payment is made to a PayID, the server returns an eligible address (for example, a Bitcoin address for a BTC payment). If no eligible address is found with the PayID, the server will return a notification that the payment channel is not available.
See the full list of companies who use PayID here.