What is XRPayNet?

XRPayNet is a cryptocurrency built on the XRP Ledger. It is designed for transfers between wallets with reported transaction times of 1 to 5 seconds. Transaction costs are described as fractions of a penny.

The project states it does not aim to compete with Ripple or XRP. It focuses on online and in-store payments, including business-to-consumer payments for services such as plumbers and electricians, as well as peer-to-peer transactions and micro-payments. The description does not provide founding year, founder names, token supply cap, or a governance model.