Author: Kevin Greene 2014-01-28 03:58:21
Published on: 2014-01-28T03:58:21+00:00
The proposal of an extension to the Payment Protocol (bip-0070) for recurring payments in Bitcoin was made by Stephane Brossier in 2014. The idea was to add an optional URL to the PaymentRequest object where the next PaymentRequest can be fetched and the date at which the merchant expects the next payment. With the growth of the 'subscription economy' model, many new companies were embracing that model, so it was necessary to define a protocol to address that need. Stephane's open-source billing platform, Kill Bill, had come up with a prototype to do recurring billing in Bitcoin. The workflow would look similar to the one from bip-0070. The wallet would receive a RecurringPaymentRequestAuth that describes the nature of the future recurring payments. The Customer would get prompted from the wallet to authorize it. The wallet would then poll the Merchant server and potentially merchant would start issuing a PaymentRequest; the role of the wallet is to ensure that PaymentRequest is within the bounds of what was accepted by the customer. If yes, then it would make the Payment the same way it works for bip-0070.Stéphane was interested in knowing if the community would be interested in this proposal. He also mentioned that he could provide more details about the protocol he had in mind (messages and flow), and also provide an implementation with bitcoinj as a wallet and Kill Bill as a merchant server.
Updated on: 2023-06-08T01:57:00.363624+00:00