Payment architecture vocabulary

All

The web payments group is trying to define a working vocabulary for some specific concepts

Current Terminology

Previous Terminology

Definition

Payment App

Payment Instrument

A piece of software that enables a payer to make payments (usually provided by the payer's PSP)

Payment Method

Payment Scheme

A way of paying. A system and set of rules for payments. A payment app may support one or more payment methods

Payment Mediator

Digital Wallet

Coordinates the flow of messages between a payee's application and the payer's payment apps


https://github.com/w3c/webpayments/wiki/A-Payments-Initiation-Architecture-for-the-Web#definitions

David E and I took an action to discuss these definitions within the Web Payments Interest Group - I'd be grateful if we could include this on the agenda for Monday's meeting.
Thanks
Nick

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Nick Telford-Reed | Technology Innovation | m: +447799473854 | t: +44 203 664 5069
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