UPDATE: We were recently brought into notice that, Payment Request API is not specific to any payment method, All the major browsers are implementing the API and would support the basic-card payment. This means, Apple could possibly use the Ripple's Interledger technology, but for the time being it's NOT using or implementing it. We've updated the below article with correct information and will get in touch with the interested parties for more update on the same.
Ripple has been one of the biggest players when it comes to processing payments over the blockchain. The currency has been bringing forward a number of changes which are redefining the way payment processing technology is known to be. In a major adoption of Ripple’s technologies.
Major tech firms such as Apple have been far from entering the world of cryptocurrencies or blockchain so far. With it's announcement on using the Payments Request API, there's a possible chance that it could use the Interledger technology built by Ripple. However, it's not yet using it. We previously mentioned that Apple started using it, but that was due of mis-interpretation of information provided to us.
Ripple’s interledger provides a better payment processing protocol as it resolves all the problems that various card networks have. The long-term plan with the interledger is to create a global network which can connect cryptocurrencies. The interledger protocol has been equated to the HTTP by Ripple’s head techies. The below image shows how Payments Request API could use Interledger to match the standards. However, it's not yet using it.
Explaining the benefits of the Ripple Interledger protocol, Ripple’s CTO Stefan Thomas had commented in 2016, "You are not exposed to any risk from either the connectors, which are the systems that connect ledgers, or any of the other ledgers. The way that we do that is by using escrow at each hop of the payment.
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"So for instance, if you are on Bitcoin you would be putting money in escrow and then you get proof that the ultimate recipient has received your money. That is basically proof that the recipient has to provide, then the money is released to whichever connector that you chose." This technology could solve a lot of problems, that's why we expect other major tech firms too, will come forward and join make use of the interledger protocol for interoperability of payments.
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