Ripple Labs Associates with W3C Web Payment Interest Group to Boost Web Payment Sector
Payment network company Ripple Labs recently announced that it would join W3C Web Payment Interest Group - a decision that would help them standardize their upcoming Internet for Money exchange globally. According to the company's recent press release, they were looking forward to promote and implement methods that could actually improve the "interoperability of [web payment] systems" across the world. As the disparate payment networks falls under a single global standard, it would eventually help in narrowing payment clearing and settlement timeframes. Ripple Labs CTO Stefan Thomas cited....
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Creators of the Ripple payment protocol, Ripple Labs, have been elected to the Federal Reserve's Faster Payment Task Force Steering Committee. The Fed created the Faster Payment Task Force earlier this year to tackle the challenge of upgrading the United States' outdated payment infrastructure, which lags behind Europe, and, in some cases, emerging markets such as China. The committee will help execute and discuss a payment strategy laid out by the Fed earlier this year. The central bank's main goal is upgrading the country's domestic payment system used for e-check settlement, called the....
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