Posts Tagged ‘payment standard’

Meritora, First Commercial Implementation of Universal Payment Standard PaySwarm, Goes Live

Today sees the launch of Meritora, the first commercial implementation of the universal payment standard PaySwarm (initially discussed in this blog here and here). The creation of Digital Bazaar, the company founded and CEO’d by Manu Sporny – whose W3C credentials include being founder of both the Web Payments Community Group and JSON-LD Community Group, as well as chair of the RDF Web Applications Working Group – Meritora is designed to ease what is still a surprisingly arduous task of buying and selling on the web. The service is starting with a simple asset hosting feature for helping vendors sell digital content on WordPress-powered sites, and support for decentralized web app stores so that app creators can put their work on their web sites, set a price for them, and let them be bought there, at a web app store, or anywhere on the web.

The name Meritora points to the service’s underlying purpose of rewarding greatness, coming from the bases ‘merit’ and ‘ora,’ the latter of which has been used across a number of cultures to express a unit of value, Sporny says (noting that it means ‘golden’ in Esperanto, and was also used as a unit of currency among Anglo-Saxons). That’s a big name to live up to, but the service hopes to do so by making Web payments work simply, securely, quickly, with low fees and no vendor lock-in for buyers and sellers on the digital content scene.

There’s Linked Data to thank for what Meritora, and PaySwarm, can do, with Sporny describing the system as “the world’s first payment solution where the core of the technology is powered by Linked Data.”

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Manu Sporny on a Web Payment Standard

PaySwarm advocate Manu Sporny recently spoke to Tom Simonite about a web standard for online payment. Simonite writes, “Over the past few decades, a handful of open standards for rendering and sharing text and imagery between computers—better known as the World Wide Web—have helped upend businesses worldwide. But these Web standards do not cover ways of transferring money or selling content, leaving us to fumble for credit cards and PayPal account details when it’s time to cough up. That could be set to change. A group affiliated with the body that maintains Web standards hopes to establish an open standard for transferring money online. If the plan is successful, Web browsers could come with features that make it much easier to buy and sell things or transfer funds over the Internet.” Read more