The World Wide Web Consortium (W3C) has launched an initiative to integrate payments seamlessly into the Open Web Platform, the collection of open technologies such as HTML, HTTP, and various APIs that enable the Web. It’s asking for industry stakeholders, such as banks, credit card companies, governments and others, to join the new Web Payments Interest Group, chaired by Erik Anderson (Bloomberg) and David Ezell (Association for Convenience & Fuel Retailing), to help deepen understanding of challenges and how to meet them with the appropriate solutions to move e-commerce forward, including on mobile devices.
The Interest Group’s goals include improving usability across devices and reducing the risk of fraud, as well as creating new opportunities for businesses and consumers in areas such as coupons and loyalty programs and crypto-currencies. On its agenda is creating a Web Payments Roadmap, determining Web Payments terminology, dealing with payment transaction messaging and identity, authentication and security. As part of its work, the new group is charged with creating a framework to ensure that Web applications can interface in standard ways with all current and future payment methods, and will encompass the full range of devices people use for online payments.
First up, the W3C says, is a focus on digital wallets, “which many in industry consider an effective way to reduce fraud and improve privacy by having users share sensitive information only with payment providers, rather than merchants,” according to the release. “In addition, wallets can simplify transactions from mobile devices and make it easier to integrate new payment innovations.”