Ripple points to new product “PAYSTRING”

Ripple points to new product PayString on November 06.
The community is currently speculating whether Ripple is again working on the release of a new product.

Since the launch of the XRP Ledger in 2012, Ripple points to new product “PAYSTRING” as it has already established numerous partnerships with heavyweights such as Santander Bank, MoneyGram or the SBI Group from Japan.

Following the recent launch of Line of Credit, a new patent application indicates that Ripple is working on a new product.

New trademark applied for by Ripple Labs Inc
The attentive Ripple enthusiast “Janna One Trick” has drawn attention via Twitter to a new trademark registration of Ripple.

On November 6, 2020 Ripple submitted a similar trademark registered by PayID in June. Both the symbols and the literal description of the trademark have striking similarities.

The description says:

PAYSTRING™ trademark registration is intended to cover the categories of electronic financial services, namely, monetary services for receiving and disbursing remittances and monetary gifts in fiat currencies and virtual currencies over a computer network; electronic financial services, namely, receiving and disbursing payments and monetary gifts in fiat currencies and virtual currencies over a computer network;

What new type of payment solution or product might be involved is therefore still mere speculation for the time being.

With free standard to provide universal payment identifier is the new technology PayID. The goal of PayID is to increase interoperability between different payment networks.

Users can use PayID as a standardized format without having to use the everlasting XRP account addresses.

40 globally active companies use PayID with increase in adaptation especially in e-commerce. Recently Payburner announced to integrate PayID for its users.