You can use PayString for receiving and sending funds at GateHub. To be able to receive funds by using PayString, you will need to create your PayString.
You don’t need to create your own PayString to be able to send funds by using PayString.
Send funds with PayString
- 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 "PayString" for XRP transfers - Enter your GateHub password if requested.
- Type in a PayString 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 PayString. We are planning to support other currencies and networks for PayString in the near future.
How does it work?
A PayString is a human-readable identifier for all payments. One PayString can represent addresses on any network. At GateHub, a PayString represents an XRPL address.
This means that you will be able to use a PayString to send payments to any network that PayString will support.
When a payment is made to a PayString, the server returns an eligible address (for example, a Bitcoin address for a BTC payment). If no eligible address is found with the PayString, the server will return a notification that the payment channel is not available.
See the full list of companies who use PayString here.