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Re: Payments activity - any point to our time and effort?

From: Melvin Carvalho <melvincarvalho@gmail.com>
Date: Fri, 4 Mar 2016 23:01:46 +0100
Message-ID: <CAKaEYh+jJxiQCrZdqvn3h_WzO5RFUa6nDFSf9_hQvB8bP4Fx6g@mail.gmail.com>
To: Anders Rundgren <anders.rundgren.net@gmail.com>
Cc: Timothy Holborn <timothy.holborn@gmail.com>, W3C Credentials Community Group <public-credentials@w3.org>
On 4 March 2016 at 22:57, Anders Rundgren <anders.rundgren.net@gmail.com>

> On 2016-03-04 22:42, Melvin Carvalho wrote:
>> <snip>
>> I also support Manu's tireless work in this area, and his sharing of the
>> state of affairs.
> I'm also very impressed by Manu's energy but a bit less convinced about
> this groups analysis regarding Web Payments.
> I do not believe that the payment industry really is that interested in
> standards, unless it is _their_ standard.
> The need for interoperability is exaggerated.  Each payment system can IMO
> continue to be "different".
> So what's needed then?  Security + Convenience.
> With U2F that's a solved problem for superproviders.
> And the rest? Who cares, the W3C have virtually no bank members, not to
> mention VISA and friends.

Anders, this is a good thing!  Why would you want bank members, they are
stuck trying to get from the 18th to the 19th century.

If payments were invented in the 21st century they would be done very
differently.  And the web would be a huge part of that.  We have a clean
slate to create a truly modern payments experience which can handle
traditional book keeping, but also show case what is possible in fin tech

This is the same way the web disrupted publishing imho.  The banks that
adapt might survive, most will go the way of the news paper industry.  And
I think they know this.

> Anders
Received on Friday, 4 March 2016 22:02:16 UTC

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