Open Transact

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= spec for financial transactions

URL = http://www.opentransact.org/


Description

" Payments and finance are today governed by lots of different incompatible complex legacy standards developed over the last 40 years. These standards make it hard to interoperate and innovate in the financial space.

OpenTransact aims to create the equivalent of the HTTP standard for financial transactions. It is based on established well known HTTP, REST and OAUTH standards. You can use the same standard and implementation code to handle everything from currency payments to loan issuance and stock trades."


More Information


See also: HTTP 402, an open financial transaction system for the Internet. The system's first application is payment at websites. [1]