Apple Introduces Interledger API for Apple Pay Payments

Cupertino-based tech giant Apple has introduced a new payment request API for Apple Pay with the Interledger extension from Ripple, Use The Bitcoin reported. The integration for the payment registry can be done for Apple’s proprietary web browser Safari 11.1 on macOS and iOS 11.3.

Interledger to rescue

Apple is one of the major tech manufacturers in the market, whose products include mobile devices like phones and smartwatches. It has been years since Apple introduced Apple Pay to make Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term easy on the internet and with PoS devices. However, the lack of support for various payment methods creates a number of difficulties to get merchants on-board.

Interledger, with its multi-browser support, will help Apple to expand its payment services using a standard API.

What is Interledger?

Interledger is an open source protocol aimed at making payments between different registries. In addition, the protocol includes a number of standards that can be applied to any method of making payments, with an address, two-factor authentication, and signatures.

Payment networks often face the problem of incompatibility between themselves. It can be solved by Interledger. It is a minimal protocol with an open architecture that allows interacting with transfer systems with different types of values contained in them. Moreover, Interledger allows making payments between different digital assets, eliminating the risk of mediation errors.

On GitHub, Interledger community defines it as the “payment method for use, for instance, with the Payment Request API. With it, merchants can request a payment that follows the Interledger standards.”

Unlike other Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term firms looking to disrupt the current financial sector, Ripple is working hand-in-hand with banks and financial institutions to make the current payment system more efficient in leveraging the blockchain technology. It has partnered with numerous banks across the world, however, by adapting Ripple backed Interledger, Apple became one of the first tech giants to adopt the technology.