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Thank you for continuing to trust us with everything FinTech! I am back to writing about one of my favorite topics—APIs. In andI wrote some of the very early pieces on how APIs are being used to build next-generation products and allowing developers to reduce the time to market. I also talked about how banks will take a very long time to open up their APIs. Open APIs would allow third-party developers to create helpful services and tools that customers can utilize.
Some banks have started this journey and we will discuss that in our upcoming reports and other announcements. But to be technically accurate, right now, banks are just looking to expose their APIs to some startups and companies that are working with them closely. Think about the startup contests, accelerators that banks sponsor. Also, think about Silicon Valley and London startup visits by banks and other engagement models.
On this scale, things such as these would take years to implement. Before I go further, let me talk about some examples so it's very clear how it actually helps when you open your APIs:. Here is a curated list by segments. Do let me know if you have any suggestions. It becomes easier for merchants if their customers are already Braintree users, in which case users only need to sign in to initiate payments.
For existing Braintree merchants, the Partners API enables developers to build valuable features in their apps like data visualizations and reporting.
The CardConnect API allows secure acceptance of a wide-range of credit, debit and alternative payments. The API offers features like next day funding, certified PCI level 1, patented tokenization, recurring billing, online bill presentment, hosted payment page and fraud protection as well. From Yen to Euros, CardConnect has you covered.
The platform specializes in marketplace collections or payouts, FinTech platforms, and enterprise business. The APIs help streamline purchase flow across mobile apps and websites. Two major API offerings include:. It increases conversions by streamlining purchase flow and reducing the amount of information customers need to enter. It can integrate with existing payments infrastructure and offer payment services quickly, easily, and free of charge.
Businesses can engage with customers through the always-available platform with location-based notifications, real-time updates, and messaging. Moreover, it becomes easier to manage updates at scale through the cloud. The company offers the quickbooks Online API which allows developers to leverage the huge amount of financial data that businesses create within quickbooks. Using these APIs, developers can create third-party applications for QuickBooks which can be offered to consumers through the Intuit Apps.
The iZettle API allows developers to access and integrate the functionality of iZettle with other applications and to create new applications. Some example API methods include managing account information, processing payments, and retrieving payment information.
Users can accept payments via mobiles, tablets, and the web with iZettle. Developers can use the chip-card APIs to enable apps to access the card reader and turn the phone into a terminal. The company already offers a payments platform with feature-rich functionality, making it quick and easy to set up new physical and mobile payment cards, configure multiple funding types, and define how and where cards can be used in real time.
Marqeta can power a host of specialty applications, from processing and program management, to multi-merchant commerce, to dynamic spend controls for both business-to-business and consumer use cases.
The credit card processing giant offers an array of API based solutions to cover multiple aspects of payments solutions. Here are some prominent APIs that MasterCard officially offers to developers for developing payments solutions:.
MasterPass — Merchant Checkout: Western Union Money Transfers: PayPal Here is an app that works as a cash register to accept payments on phones. The Adaptive Payments API by PayPal enables merchants and developers to select the payment scenario that is most suitable to their needs. Merchants and developers can create applications that manage a search engine using googles api that will return search results with only sites that accept bitcoi, payment pre-approvals, and refunds.
Merchants and developers also can send money peer-to-peer, and can split payments in both the parallel and the chained models. Merchants and developers can accept guest payments and can schedule disbursements. Merchants can use Connect API to retrieve activity reports for processed payments, refunds and deposits. Moreover, the company has also come up with upgraded versions of mPOS hardware solutions.
We certainly expect Square to offer even more solutions infrom an API perspective. APIs by Stripe lets developers integrate payments within their website or apps. Stripe already went global in early supporting more than currencies. For merchants, Stripe APIs bring a one stop solution to multi-currency acceptance rather than having to work with multiple financial partners.
Stripe recently updated its APIs to support bitcoin-based payments as well. Launched in MarchStripe has earned itself a reputation for offering hassle-free online payment APIs to address businesses of all sizes. All of this is possible through the V. Apple Pay is helping users avoid the hassle of carrying a physical wallet and to conduct payments in a secure manner. This has seen Apple Pay integrated in a number of payment systems, especially in the case of in-app purchases.
This powerful Apple Pay feature will further boost its upcoming international expansion. Yodlee Interactive, a division of Yodlee, builds APIs to help customers bring innovative FinApps to market more quickly using the richest consumer transactional data in the world.
It primarily offers the following two APIs:. This enables them to get paid quickly because they actually verify the account so the developer can then charge the account making it more seamless and less fragile. Besides the above two, the company has launched an Enterprise API, custom-built and co-branded for individual financial institutions. APIs from Xignite provide back-end data integration, powering a lot of financial service ventures.
Plaid offers two primary products through its APIs that allow users and developers to effortlessly interact with financial institutions. It allows developers to dig into the narrative by collecting transactional data from credit, debit, checking, savings and more accounts in a search engine using googles api that will return search results with only sites that accept bitcoi clean, usable format.
It intelligently matches the merchant name, category, location and address of each purchase. You Might Also Like: ACH should ideally be simple for both users and developers. Plaid Auth helps a search engine using googles api that will return search results with only sites that accept bitcoi authorize and set up ACH payments in a few seconds with the credentials which users already know, instead of esoteric account numbers. Developers can also verify ownership and check balances to make ACH painless.
The Finicity platform and API enables software developers to securely and easily integrate customer financial data into their apps. More than 16, data sources securely connect customers to a broad set of financial institutions to increase the possible market for apps. Comprehensive account types allow developers to feed apps the data they need to deliver a compelling user experience. With Fidor, each user can receive a specific customer ID and a search engine using googles api that will return search results with only sites that accept bitcoi bank account.
Deploying the Fidor API, requests can a search engine using googles api that will return search results with only sites that accept bitcoi made for third party payments or transfers.
Single transactions as well as batch transfers or direct debit withdrawals can be made using a single API-driven procedure. The API enables developers to access general account management features. The fidorOS has been designed to work with an existing core banking system and is expandable beyond traditional banking services.
The banking platform is a middleware that provides support for social trading and lending, virtual currencies and emergency loans without being tied to any legacy code. The Admin APIs can be used by the user to create new users, wallets and individual cards. OANDA is a global provider of innovative forex trading services. Some of the applications as witnessed in past hackathons are:.
A data visualization tool that uses an animated globe to provide forex traders with a visually interactive way to conduct comparative analysis of currencies over a specific time period. A crowdsourced financial calendar that allows users to input and comment on financial events by the currency pairs they anticipate will be affected. A tool that allows traders to upload any data set they would like to analyze whether there is a correlation between their data and historical currency prices. It supports transactions in countries and is used by 50, merchants.
A leader in payment services, it offers 8 payment methods, 26 currencies and 15 languages making it one of the leading processors of online transactions in the world. The service is simple to implement, including a pre-integrated payment gateway, a merchant account, PCI compliance, international fraud prevention, and plug-ins for of the most popular carts.
A global multi-channel payment company, Adyen offers businesses an outsourced payment solution. This lets merchants to accept payments from anywhere in the world and offer a global payment solution for mid, large and enterprise e-commerce merchants. It has over a decade of experience in running high-volume payments systems.
The company which is privately owned and profitable realised a 50 million turnover in Finxera lets non-financial institutions to collect, store and send money in a simple, secure and compliant manner. The California-based company provides an API-driven approach to help its clients to offer banking services in their applications.
SecurionPay is a cross-device stand-alone gateway payment gateway that provides fast and limitless integration possibilities. Set of clean and robust APIs is capable of supporting any payment scenario in the most secure and hassle-free way. Embedded payment form or advanced checkout allows immediate transaction processing and are designed to increase conversion rapidly.
This company focuses on both high-risk and e-commerce industries. CardFlight permits app developers to easily take in-person payments within their own iOS and Android apps.
Users of the service have full control of their integrated app experience without encountering typical complexity of payments integrations. San Francisco headquarted, Coinbase is bitcoin wallet and exchange service that facilitates a search engine using googles api that will return search results with only sites that accept bitcoi between bitcoin and fiat currencies in 26 countries and bitcoin transactions and storage in countries worldwide.
Its three core products, an exchange for trading bitcoin and fiat currently, a wallet for bitcoin storage and transactions and an API for developers and merchants to build apps and accept bitcoin payments. Founded in Fortumo lets app and game developers monetize their users through mobile operator billing in more than 80 countries.
