Top tech companies adopt crypto-compatible API

Technology 9/17/2017, 5:39 PM
Top tech companies adopt crypto-compatible API

Developers at Microsoft, Google, Facebook, Apple and Mozilla have created a browser application programming interface (API) that could soon enable the online purchase of goods and services using cryptocurrency, CoinDesk reported.

The work initiated by the World Wide Web Consortium (W3C) with the help of top technology companies was announced on Thursday and signifies the growing recognition of digital currency as a legitimate means of payment. The API is currently being deployed in browsers including Google's Chrome, Microsoft's Edge, Apple's Webkit, Mozilla's Firefox, the Samsung Internet Browser and Facebook's in-app browser. Upon activation, the Payment Request API will allow new payment types, including bitcoin and ether, to be stored directly in the browser, after which consumers will be able to choose their preferred payment method from a drop-down menu. 

The W3C sees the broad implementation of API as a way to offer consumers more payment options and merchants a more secure online checkout, according to the head of the consortium's payment activity, Ian Jacobs. He said in an interview with CoinDesk that he hopes the early adoption and the increase in browser support over time will enable a wider deployment by the middle of next year.

TeleTrader Newsroom / IB

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