- Overview of Current and Future Payment
- Alternative Currencies - Ven and
- National Banking Infrastructure - United States
- Web Developers - Yandex Money
- International Infrastructure - World
- Card Processing - Worldline
- Remittances and the Underbanked -
- General Discussion about Financial
- Daniel Appelquist
- Manu Sporny
- Daniel Appelquist, Manu Sporny, Charles McCathie Nevile, Stan Stalnaker, Bryan Sullivan, Virginie Galindo,
Isaacson, Wendy Seltzer, Evgeny Vinogradov, JÃ¶rg
Johansson, Jeff Jaffe,
Bennett, Ernesto Jimenez,
Dave Raggett, and 75
others for a total of 103+ people
Manu Sporny is scribing.
This page contains minutes
for an official W3C workshop event that have
been cleaned up and reformatted by the Web Payments Community Group. The W3C
and the Web Payments Community Group are two separate organizations. Readers
should understand that while the workshop was an official W3C event, the
operation of the Web Payments Community Group is not officially sanctioned by
W3C's membership. More information on joining W3C (membership fees)
and/or the Web Payments Community
Group (free) can be found on the respective websites.
Topic: Overview of Current and Future Payment
Topic: Alternative Currencies - Ven and
USE CASE: Bots that execute financial operations on behalf
Stan shows Hubs that show Ven.
KYC == Know Your Customer
AML == Anti-Money Laundering
USE CASE: Personal vault can host information/assets and
issue ids useful for various things (e.g. payments?)
Loud ringing drives Stan off of the stage. Chaals is being brutal w/ speaker
USE CASE: Managed access to personal identity/attributes as
economically valuable assets in a payment system
Topic: National Banking Infrastructure -
United States Federal Reserve
ACH == Automated Clearing House (bank-based payments)
Loud ringing drives Ken off the stage.
Topic: Web Developers - Yandex Money
USE CASE: Invoke payment service via URI scheme.
USE CASE: Simple URI system - simple payment markup that
developers get right.
USE CASE: Enable customer-based selection of payment
USE CASE: Switch payment method in the middle of a
USE CASE: Allow loyalty cards, coupons, etc. as a payment
Topic: International Infrastructure - World
USE CASE: National incentives for using web-based payments
due to beneficial effects upon economy.
Scribe missed slide #6.
USE CASE: Ensure access to payment systems by
non-traditional channels, where barriers exist for traditional channels
Topic: Card Processing - Worldline
USE CASE: Secure Element-based offline payment.
An unknown voice from the crowd asks: "Do card schemes agree w/ this card not
USE CASE: Browser-mediated offline transactions.
Chaals next up is Erik Anderson from Bloomberg.
Topic: Remittances and the Underbanked -
USE CASE: Sending money to family internationally via
Erik shows very complex slide showing how money flows.
This is just for US -to Mexico.
USE CASE: Enable financial regulation (e.g. reporting above
a certain value) to be implemented directly in payment protocols
USE CASE: Enable Zero-trust transactions.
Chaals thanks the panelists for their presentations.
USE CASE: Leveraging variable degrees of identity/anonymity
per requirements of the payment transaction.
Topic: General Discussion about Financial
USE CASE: Realtime purchases involving prerequisite
reception of funds from international sources (e.g. family).
USE CASE: Mixed sources of payment for a single transaction,
using multiple payments with minimal transaction overhead.
USE CASE: Selection of payment method based upon desired
payment speed and cost.
USE CASE: Option to get faster payment if you pay more.
USE CASE: Selection of payment service based upon ability to
handle escrow for untrusted merchants.
USE CASE: Rights & responsibilities of a transaction
being associated with the context of the transaction, and conveyed to parties
in the transaction.
Someone named Sergio made this point: "US printed $27 billion in non-$100
bills, lowest since 1981."
Sergio added: "So the US is printing record amounts of $100 bills, which are
used primarily for criminal purposes"
Sergio adds: "Ergo the US is in favour of anonymity for criminal transactions
but not for legitimate transactions - seems a crazy policy to me."
USE CASE: Take the change for your $100 bill through a web
Clapping to thank panelists and audience, session 1 adjourns.