The World Wide Web Consortium (W3C) launched new Web Payments Working Group to examine ways for easier adoption of payment instrument improvements or new payment instruments, including bitcoin and other cryptocurrencies. Working group will raise better payment standards, boost digital wallet market and improve online check-out process.
Recommendations from this Working Group should also increase some areas of interoperability between payer and payee systems. They will help to specify the checkout experience for users both safer and easier, particularly on mobile devices, and streamline payment flow.
Working Group will also work on standardized APIs to allow users to select the right payment type through the browser and make it easier for Web developers to integrate existing and new payment flows into their applications.
“We believe that one reason for this is that the digital wallet market is fragmented and providers use incompatible programming interfaces,” stated W3C CEO Dr. Jeff Jaffe. “The proposed standards from W3C will help ensure interoperability of different solutions by standardizing the programming interfaces. So when you buy something, you should have a standard way to match the payment instruments you have with the ones accepted by the merchant,