Last Update May 27th, 2020. PayID is a simple way to remember and send money directly to another bank account without needing an account number.
PayID is also a popular method of payment for buying and selling bitcoin instantly and securely.
If you are buying or trading bitcoin in high volumes with PayID our recommendation is to use Paxful for your trading needs.
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How To Buy Bitcoin With PayID
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Paxful is a person-to-person marketplace that supports over 300 payment methods.
Paxful gives vendors the ability to create offers in all currencies.
- Escrow system
- Diverse payment methods
- Simple user interface (UI)
- Wide variety of sellers
- Buyers and sellers are at risk of being scammed
What Is PayID?
Introduced in 2013, PayID is a universal ID for payments built on HTTP/DNS and part of the New Payments Platform (NPP) for Australian banking institutions, making it easier for citizens of Australia to send and receive money in real-time. NPP is available for customers 24 hours a day and 7 days a week.
The Open Payments Coalition consists of companies such as Ripple, BitGo, Brave, and Huobi in a quest to provide a universal payment experience that integrates bank accounts, cards, and cryptocurrency under one system.
A PayID can be something easy to remember such as an email or phone number or an ABN, ACN, ARBN, or ARSN.
How PayID Works
Where Is PayID Available?
PayID is exclusive to citizens who are living in Australia.