Rabobank and W3C work on open standard for online payments




The World Wide Web Consortium working on open standards for online payments. The W3C Payments Interest Group first focuses on a universal wallet system and then must realize cooperation between existing payment methods. Rabobank supports the project.

W3C (World Wide Web Consortium) new logo without letters In addition to the Rabobank include Bloomberg, Gemalto and Russian search engine Yandex rallied behind the Web Payments Interest Group. The W3C makes a call to all concerned about online payments, in the hope that the project will ultimately be borne wide.

How exactly W3C wants to achieve its goals, it is not yet clear. The organization aims to create at least open standards that reduce the risk of online fraud and promoting ease of use. “We see innovation in mobile payment,” said example, the W3C “but the lack of standards makes it difficult to adopt new payment methods such as crypto currency or payment providers.”

The group will initially focus on digital wallets. The so-called wallets should offer more privacy and security because sensitive data only with the payment service provider and is not shared with sellers. This way of working could also be used to simplify. The payment process mobile devices The Payments Interest Group emphasizes not attempt to come with wallets, but to develop a framework to ensure that web applications in a standardized way with existing and future payment methods.


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