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Re: [Blog] Summary of TPAC 2018 WPWG meeting

From: Anders Rundgren <anders.rundgren.net@gmail.com>
Date: Fri, 2 Nov 2018 16:38:27 +0100
To: Payments WG <public-payments-wg@w3.org>
Message-ID: <d9f94042-5e5f-74a1-0fc1-59eb947bcd15@gmail.com>
On 2018-11-02 15:05, Ian Jacobs wrote:
> Dear Web Payments Working Group,
> 
> I’ve written a blog post to try to summarize our FTF meeting:
> 
>   TPAC 2018 Recap
>   https://www.w3.org/blog/wpwg/2018/11/02/tpac-2018-recap/


  "For the second topic, Generic Payment Tokens, Adrian described
   the pitfalls of push payment flows: where the user’s bank
   initiates a payment (e.g., credit transfer) outside of the
   control of the merchant. Adrian offered an alternative flow
   where the party that initiates a pull payments returns a
   (“redeemable”) generic token through Payment Request API.
   The merchant can subsequently use the token to initiate the
   payment from the user’s bank. (I believe this is how direct
   debits work; please comment below if I am mistaken.) Adrian
   described a vision where merchants would declare through
   Payment Request API “I accept the generic token payload
   from the following networks,” and this would enable payment
   handlers to innovate and support different payment networks"

Interesting, this is exactly how the Saturn payment authorization scheme works!

However, Saturn adds several enhancements to this "push with a twist" scheme:
- The generic token contains an URL pointing to the bank where it can be redeemed.
- The generic token is encrypted by a bank key eliminating the need for external token servers.
- A security/trust architecture building on an enhanced version of the traditional "four corner" model eliminating [front-end] payment intermediaries for most payments.
- A discovery solution enabling the parties to perform further checks before executing a transaction or transaction request.

What's missing then?
A lot, including:
- p2p payments using the same account credentials
- real-time account status
- electronic receipts

A peer review of security solution would also be nice :-)

Anders
https://github.com/cyberphone/saturn/blob/master/PSD2.md#saturn---optimized-for-payments

> 
> Feel free to share and add comments. If you spot any errors, please let me know. Thanks!
> 
> Ian
> 
> --
> Ian Jacobs <ij@w3.org>
> https://www.w3.org/People/Jacobs/
> Tel: +1 718 260 9447
> 
> 
> 
> 
> 
Received on Friday, 2 November 2018 15:38:55 UTC

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