Open Standards
Open for everyone
David Benoit, Mozrt
Our technology is always open, accessible, and shared with the global community.
We believe that payment networks should be interoperable to remove barriers to participating in the global financial ecosystem. The open standards we steward are governed and developed in collaboration with participating financial services providers, community members and the relevant standard bodies like the World Wide Web Consortium (W3C).
“Interledger gives us the ability to grow and adapt. The way they have built it is such that it really can democratize the movement of money.”
–Christina Kinney, Head of Payment Operations
Interledger provides a bridge for closed networks to transact with each other through the Interledger Protocol (ILP), which describes a common language for transactions.
Built on an updated financial infrastructure framework, ILP can handle up to 1 million transactions per second per participant, as opposed to 60,000, which is the industry standard today.
ILP is an open, currency-agnostic protocol for transferring funds based on TCP/IP, the protocol that defines the Internet. It was designed for sending packets of money across different accounting ledgers.
Discover more about the faster, easier and more efficient way to send money here.
Open Payments is a standard that enables digital financial services to allow delegated access into their Interledger-enabled accounts.
When digital financial service providers implement the standard, their customers’ financial accounts gain the ability to share transaction history and certain account details with applications. This allows applications to issue instructions for sending and receiving payments on their user’s behalf.
Evolve your offer through open payments, find out more here.
Web Monetization enables web pages to automatically and passively receive payments. This provides a tremendous benefit to content creators and consumers, while supporting crucial web infrastructure.
Until recently, there hasn't been an open, neutral, and cost-efficient way of transferring money on the Internet. Interledger and the Open Payment APIs provide a simple, interoperable, and currency-agnostic method for the transfer of small amounts of money.