Machine-to-machine could be future of payments – study
Existing 402 web protocol, coupled with AI, could enable frictionless transactions, says author
Machine-to-machine payments could be the foundation for a new era of microtransactions and agent-driven commerce, a payments expert with the Federal Reserve Bank of Atlanta has claimed.
In a blog post published on October 20, Chris Colson outlines the potential uses of internet protocol 402 – a code for ‘payment required’ that was included in the original design of internet standards but left for future use. He compares the protocol to how vending machines take payments.
“The website acts as the
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