A payment pointer is an identifier that allows money to stream to you, much in the same way an email address allows you to receive email.
Here's how to set one up.
First, you need to set up a digital wallet. This is the service that provides you with your payment pointer and allows you to exchange and store currency. There are multiple digital wallet service providers to choose from, but be sure to select one that supports the Interledger Network. I use Uphold.
Next, you need to find your payment pointer. Uphold generates unique a payment pointer for each currency, so make sure you select the currency you want to receive your payments in. If you're having a hard time finding your payment pointer (it took me forever!) try this resource.
Here's what my payment pointer looks like:
Anyone with this payment pointer can send me currency, just like anyone with my email address can send me email.
Next, put your payment pointer to work! The first place to do that is right here on community.webmonetization.org. Go to the extensions on your settings page and add your payment pointer to your Web Monetization settings.
Now, whenever anyone with Web Monetization enabled in their browser views your content on this platform, they will be streaming you micropayments!
You can do much more with your payment pointer. Do you have a website or web application? Insert the monetization meta tag, a simple line of HTML, to enable Web Monetization on your site or app.
Everything I've described so far allows people to send money to you. To return the favour and stream micropayments to other people's payment pointers while you browse the web, you need to set yourself up with a service that enables this through your web browser. Coil is currently the only provider of this service. When your Coil account is activated, you'll need to install the browser add-ons/extensions (available for Mozilla Firefox, Google Chrome, Brave and Microsoft Edge) and you'll be ready to go!