An initiative by the W3C to form standards around online payments. Hopefully it’ll be done before 2020.
Ha, yes – we hope that the work will be done before 2020 as well. In fact, there is already a site explaining the work here: http://payswarm.com/
There is also a working reference implementation here: http://dev.payswarm.com/
And a test website here: http://recipes.payswarm.com/
So, we’re off to a good start and hope standardization goes more quickly than not. It is a world standard, so these things take time… but, like HTML5, you will most likely be able to use the technology before it is fully through the standards setting process at W3C.