Difference between revisions of "Web Payments"

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(Full Title or Meme)
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* [https://www.w3.org/2020/Talks/ij_wpwg_202008/index.html Web payments S4 2020 from W3C WPWG]
* [https://www.w3.org/2020/Talks/ij_wpwg_202008/index.html Web payments S4 2020 from W3C WPWG]
[[Category: Finance]
[[Category: Finance]]
[[Category: Standard]
[[Category: Standard]]

Revision as of 13:47, 29 October 2020

Full Title or Meme

Web Payments as implemented by the W3C and browser manufacturers as opposed to Open Banking as implemented by the banks.


  • Payment Request API was originally focused on streamlining checkout ie. extracting money from the user was fast as possible. Security of user assets was not a goal.
  • in late 2020 the focus switched to methods that are of "High Value to the industry", namely low friction user authentication. Security of user assets is still not a goal.
  • Open Banking mean which has focused on Secure Customer Authentication, again focusing on the needs of the Financial Sector not on the consumer.
  • Solving the "NASCAR Problem" of two many options was rejected by brands that wanted to be in the consumers face and merchants that wanted to control the order of brands on their site.