Ripple launched the ChefXRP web application that integrates invoices and subscriptions with the open and free standard PayID.
There will be a PayID Hackathon for developers who can participate for a price of $ 25,000.
Payment solutions company Ripple has published the first result of its integration into the Open Payment Coalition (OPC) with the ChefXRP web application. The Coalition was announced on June 18 of this year and has over 40 members, including global corporations and non-profit organizations. The OPC introduced PayID which is integrated into the Web application launched by Ripple and the XUMM banking application.
As reported by CNF, PayID is a universal payment identifier, a free standard open protocol that allows interoperability between different payment networks. This protocol improves the user experience when sending or receiving a payment. During a transfer, the user receives a standardized address with a certain format. This simplifies a process that typically involves long account numbers, different software, routing numbers, or long addresses in crypto wallets.
Ripple demonstrates the power of PayID in a testnet
According to the Xpring blog, the ChefXRP web application will demonstrate the power of using PayID in a subscription payment stream on a trial network. To use the web application, developers must download the Xumm banking application. After installing it, developers must configure it to find an address in the XRP registry of the test network. As shown in the image below, developers need to access the Settings option, then Advanced, and in that option go to the node and select the net test option.
Source: https://blog.xpring.io/introducing-chef- xrp /
The ChefXRP web application can be used to create subscriptions and payments will be processed with Xumm. To do this, users must log into the ChefXRP website with their payment ID and click 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 payment and even modify or cancel the purchase / subscription. Finally, users will be notified in the Xumm app and will have the option to accept or decline payment.
When the launch was announced, Ripple's investment arm, Xpring, issued an invitation to all developers "inspired" by the application. Xpring said:
Developers inspired by this demo can register for the PayID Hackathon, where more than $ 25,000 in prizes will be awarded to the winners. It will be interesting to see what other applications will appear.
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Ripple is seriously making giant strides in business development, in the recent times. This will boost the future of the coin for the better.