W3C home > Mailing lists > Public > public-webpayments@w3.org > June 2014

Re: Push Payments

From: Manu Sporny <msporny@digitalbazaar.com>
Date: Mon, 23 Jun 2014 21:37:52 -0400
Message-ID: <53A8D670.8040403@digitalbazaar.com>
To: public-webpayments@w3.org
On 06/23/2014 05:54 PM, Adrian Hope-Bailie wrote:
> The last thread prompted me to publish a document I have been
> working on for sometime which provides some clearer background on my
>  motivations for push payments.
> 
> I have put it on the OpenPayee website at:
> 
> http://openpayee.org/push-payments-manifesto/
> 
> Comment and criticism encouraged :)

Comments and criticism below :)

> Payments made using any form of identity token which gives the payee 
> the ability to pull the payment out of the payer’s account are bad.

Subscriptions are a good thing. You should clarify to state that "any
token which gives the payee the ability to pull arbitrary payments out
of the payer's account are bad".

The PaySwarm demo has a capability that allows budgets to be assigned to
a vendor, so you can do stuff like: "Allow this merchant to pull up to
$5 from me per month at their discretion for the next 2 months".

> Yes, that includes the majority of retail payments today and yet 
> there seems no co-ordinated plan to move away from this outdated 
> concept.

There are many coordinated plans that have been put forward by
governments, but the banks and card networks aren't biting.

> fraud bankrupting small businesses

This is a weak argument, I'd imagine the number of businesses that have
gone out of business as a result of credit card fraud are quite low.

> Push payments don’t require new payment networks, new regulations or 
> new technology just a standard way of closing this gap.

All the banks and central banks that we have talked to view what we're
doing here, and the use of the Web to transmit a payment as a new
payment rail/network. I agree on the no new regulations bit. I disagree
that new technology isn't needed (as any new standard constitutes a new
technology).

> flip the industry on its head

We've made a conscious effort to re-iterate that what we're doing here
is going to create standards that are non-disruptive to the existing
players that adopt the technology. When you use phrases like "flip the
industry on its head", it makes large companies very nervous and
unwilling to work with you. :)

The rest of the article is very good and almost completely aligned with
what we're trying to accomplish here.

Make sure you've read these articles to understand the similarities:

https://hacks.mozilla.org/2013/04/web-payments-with-payswarm-identity-part-1-of-3/

https://hacks.mozilla.org/2013/04/payswarm-part-2/

https://hacks.mozilla.org/2013/04/web-payments-with-payswarm-purchasing-part-3-of-3/

-- manu

-- 
Manu Sporny (skype: msporny, twitter: manusporny, G+: +Manu Sporny)
Founder/CEO - Digital Bazaar, Inc.
blog: The Marathonic Dawn of Web Payments
http://manu.sporny.org/2014/dawn-of-web-payments/
Received on Tuesday, 24 June 2014 01:38:22 UTC

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