Difference between revisions of "Brief survey of existing payment services"

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* [http://oneapi.gsma.com/ GSMA OneAPI] - HTTP based network payment protocol aimed at mobile operators
 
* [http://oneapi.gsma.com/ GSMA OneAPI] - HTTP based network payment protocol aimed at mobile operators
 
* Contactless payment cards - these are conventional debit and credit cards that also include support for contactless payments under a given limit, see [http://www.theukcardsassociation.org.uk/wm_functions/fnc_get_document.asp?DocumentID=141&Filename=Contactless%20Cards%20The%20Facts%20v6.1%20EM_SH.pdf UK factsheet]. You just hold your card against the reader and don't have to type in a PIN. This has given rise to concerns about security, e.g. the ability to surreptitiously scan information. This is however, limited to the information printed on the card with the exception of the 3 digit security code on the back, i.e. the user name, the primary account number (PAN) and the issue and expiry dates. Users are protected against fraud, but banks are not liable for identity theft.
 
* Contactless payment cards - these are conventional debit and credit cards that also include support for contactless payments under a given limit, see [http://www.theukcardsassociation.org.uk/wm_functions/fnc_get_document.asp?DocumentID=141&Filename=Contactless%20Cards%20The%20Facts%20v6.1%20EM_SH.pdf UK factsheet]. You just hold your card against the reader and don't have to type in a PIN. This has given rise to concerns about security, e.g. the ability to surreptitiously scan information. This is however, limited to the information printed on the card with the exception of the 3 digit security code on the back, i.e. the user name, the primary account number (PAN) and the issue and expiry dates. Users are protected against fraud, but banks are not liable for identity theft.
* [https://wiki.mozilla.org/WebAPI/WebPayment Mozilla WebPayment API] - introduced for Telefónica's Carrier Billing functionality, but could be extended to any other Payment Provider. The app initiates a payment by signing a request and calling navigator.mozPay(). The browser then displays a dialog for authenticating the user to the payment provider, and for the user to confirm or cancel the payment. The app is notified with a call back, and the app server is sent a signed POST request with a Payment Provider transaction identifier indicating that the purchase was completed successfully.
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* [https://wiki.mozilla.org/WebAPI/WebPayment Mozilla WebPayment API] - introduced in [http://www.mozilla.org/en-GB/firefoxos/ FirefoxOS]  with initial support for Telefónica's Carrier Billing functionality, but with a view to future extension to other payment providers. The app initiates a payment by signing a request and calling navigator.mozPay(). The browser then displays a dialog for authenticating the user to the payment provider, and for the user to confirm or cancel the payment. The app is notified with a call back, and the app server is sent a signed POST request with a Payment Provider transaction identifier indicating that the purchase was completed successfully.
 
* [http://bitcoin.org/ Bitcoin] - a decentralized electronic cash system based upon cryptographic tokens with a peer to peer solution for managing anonymous transactions and minting tokens. Bitcoin is the first digital currency that avoids the need for trusted intermediaries to prevent double spending. This makes it hard to regulate, and Bitcoin has gained notoriety through its use for shady transactions. Arstechnica report: [http://arstechnica.com/tech-policy/2011/06/bitcoin-inside-the-encrypted-peer-to-peer-currency/ Bitcoin: inside the encrypted, peer-to-peer digital currency].
 
* [http://bitcoin.org/ Bitcoin] - a decentralized electronic cash system based upon cryptographic tokens with a peer to peer solution for managing anonymous transactions and minting tokens. Bitcoin is the first digital currency that avoids the need for trusted intermediaries to prevent double spending. This makes it hard to regulate, and Bitcoin has gained notoriety through its use for shady transactions. Arstechnica report: [http://arstechnica.com/tech-policy/2011/06/bitcoin-inside-the-encrypted-peer-to-peer-currency/ Bitcoin: inside the encrypted, peer-to-peer digital currency].
  

Revision as of 10:04, 18 February 2013

Debit payments are possible where an account is prefilled and drawn down for each transaction. The account could be your bank account, or it could be a separate account that you fill with you regular credit or debit card. Another approach aggregates your transactions subject to some overall limit and requires you to settle in full or in part at the end of the month.

please add to this list and amend as appropriate

  • Western Union - person to person transfers settled online through a user's debit or credit card or through cash payments at Western Union outlets
  • PayPal - online payment service settled through a user's debit or credit card
  • Paypal Here - dongle converts phones into wireless card swipe reader for card payments
  • Square - dongle converts phones and tablets into wireless card swipe reader for card payments, "Pay with square" - pay without even touching your phone, merchant automatically opens your tab as you walk in the door, and at checkout time, confirms your identity by your name and photo. How does the merchant sense your presence (WiFi, Bluetooth, GPS, explicit Web notification)?
  • Verifone SAIL - dongle converts phones and tablets into wireless card swipe reader for card payments
  • Flint - use the phone's camera to read your debit or credit card, and enter card verification information
  • V.me - enter your email address and password at checkout as a proxy for swiping your Visa debit or credit card, in addition, support for NFC payments from your phone with the V.me account
  • Paypass - NFC payment solution for Mastercard NFC enabled debit or credit cards, and now from your phone with the PayPass wallet
  • Weve formerly known as Project Oscar - mobile wallet with payment via the mobile network or via NFC - joint venture between Vodafone, O2 and Everything Everywhere (parent company of T-Mobile and Orange in the UK)
  • Isis - mobile wallet with payment via NFC at any Isis Ready merchant.
  • Google Wallet - mobile wallet with payment from your phone via NFC at PayPass enabled terminals
  • LevelUp - mobile display or printed card with QRCode as a proxy for the user's debit or credit card
  • GSMA OneAPI - HTTP based network payment protocol aimed at mobile operators
  • Contactless payment cards - these are conventional debit and credit cards that also include support for contactless payments under a given limit, see UK factsheet. You just hold your card against the reader and don't have to type in a PIN. This has given rise to concerns about security, e.g. the ability to surreptitiously scan information. This is however, limited to the information printed on the card with the exception of the 3 digit security code on the back, i.e. the user name, the primary account number (PAN) and the issue and expiry dates. Users are protected against fraud, but banks are not liable for identity theft.
  • Mozilla WebPayment API - introduced in FirefoxOS with initial support for Telefónica's Carrier Billing functionality, but with a view to future extension to other payment providers. The app initiates a payment by signing a request and calling navigator.mozPay(). The browser then displays a dialog for authenticating the user to the payment provider, and for the user to confirm or cancel the payment. The app is notified with a call back, and the app server is sent a signed POST request with a Payment Provider transaction identifier indicating that the purchase was completed successfully.
  • Bitcoin - a decentralized electronic cash system based upon cryptographic tokens with a peer to peer solution for managing anonymous transactions and minting tokens. Bitcoin is the first digital currency that avoids the need for trusted intermediaries to prevent double spending. This makes it hard to regulate, and Bitcoin has gained notoriety through its use for shady transactions. Arstechnica report: Bitcoin: inside the encrypted, peer-to-peer digital currency.

Some more experimental approaches:

  • Flattr - prepay service for making payments to sites displaying Flattr button, where your monthly spend is divided amongst the sites where you clicked the button
  • PaySwarm - payment solution that splits payments across people listed in a PaySwarm digital contract. Supports decentralized identity and payment, in-app purchases, browser-based purchases, digital signatures for authentication/security, proof-of-purchases, offline purchases, micro-transactions, and crowd-funding.
  • WebCredits - simple system for storing and transferring IOUs (credits) between agents
  • OpenTransact - HTTP based payment protocol
  • IFEX - protocol designed to facilitate the negotiation of financial transactions between internet-based financial endpoints
  • Ripple - credit based solution where commitments to pay ("IOUs") are exchanged along trust chains
  • Opentabs - credit based solution involving settlements of cryptographically signed open tabs ("IOUs")
  • webinos payment API from the webinos research project. It is not linked to a specific payment service provider and is designed to be sufficiently generic to be mapable to various payment services like GSMA OneAPI, BlueVia, Android Payment API or PayPal.