What is Electronic Payment Framework

This article presents what an electronic payment framework is, its main features and benefits, what the main electronic payment frameworks proposed so far are and, the current initiatives that are being developed. For each framework developed so far, the article presents its key features and differences with previous works. The presentation of the different frameworks proposed so far will allow the reader to understand the evolution of these frameworks and how different features have been incorporated along the time. Once previous works have been presented, the article introduces the most recent work in this field, that is, the work that is being developed by W3C with its Web Payment Activity Initiative. The article covers the different specifications that have been defined in this initiative and it analyses the main challenges to be address. Thus, the reader will have a broad vision of electronic payment frameworks.