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March 25, 2022

On the wires

January 25, 2022

On the wires

Partnering With Fintechs and Simplifying Payments Key Drivers to Banks’ Modernization Plans, Global Study Reveals

“Almost two-thirds of banks globally (65 percent) say Open APIs that enable access to a broad range of fintechs and consolidation of different payment types are the key drivers behind their plans to modernize payments systems, according to a new global report, Defining and Building the Next Generation Payment Hub , from ACI Worldwide (NASDAQ: ACIW) and Edgar, Dunn and Company (EDC).”

November 12, 2021

On the web

Veem Launches a Program to Help Developers Embed Veem Applications in Their Software

Digital Transactions

“As small and medium businesses shift more of their operations online, the need for financial products with embedded payment solutions is growing. To make it easier for providers of banking and financial software providers to offer embedded payment solutions to small and medium businesses, Veem Inc. on Thursday announced its Veem Partner Connect program. The program creates multiple options for software providers to embed Veem’s accounts receivable, accounts payable, and invoicing capabilities into their existing applications, thereby enabling small businesses to access that functionality through a single platform.”

October 20, 2021

On the web

Identity Decisioning Platform Alloy Moves Into Credit Underwriting

Finextra Research

“Alloy, the recently named unicorn, has expanded its identity decisioning platform to include credit underwriting, with the intention of building comprehensive views of customers in line with their onboarding and transaction monitoring products. Ahead of taking to the stage at Money 20/20 US in Las Vegas where the news will be formally announced, the New York-based startup revealed that their aim is to allow banks and fintech firms to make better identity, risk and now, credit decisions.”

July 21, 2021

On the wires

Afinis Interoperability Standards Releases New APIs to Help Businesses With Cash Management Decisions | Nacha

“Nacha’s Afinis Interoperability Standards announced today it has released three new APIs to assist corporate customers of financial institutions with accessing and reviewing their own financial transaction data to better help them with cash management analysis and informed decision-making. Afinis is a membership-based organization that focuses on the rapid delivery of APIs and other financial services standards across the U.S. and globally.”

June 12, 2020

On the web

Codat raises $10 million to aggregate all financial data from small businesses


Codat is building an API that connects with all the systems that hold all the relevant financial data. That type of information is usually spread across multiple systems, and small businesses often use different systems. On the other side, banks, insurance companies and more can speed up their internal processes and give you an educated answer for your next loan or insurance product. Codat currently works with 50 financial providers, such as iZettle, Experian and two of the top four banks in the U.K. Every month, those companies process data from 10,000 small businesses that have interacted with those 50 institutions.”

March 4, 2020

On the web

The Explainer: Open Banking and APIs


“Now around 200 UK financial providers are enrolled in the UK’s open banking scheme, which is regulated by the Financial Conduct Authority or a European equivalent. This new more transparent network of the UK’s banking data is shared via APIs, or application programming interfaces. The growing number of firms moving over to this new standard means a shift in what the sector considers valuable. When every firm has access to the same data, where is the competitive edge?”

February 6, 2020

On the wires

Bank of America Business Advantage 360 Gives Small Businesses the Ability to View Data From Third-Party Business Applications

“On the first anniversary of the launch of Business Advantage 360 , its one-stop digital dashboard for business owners, Bank of America today announced that it can now integrate data from key third-party business applications to provide a more complete financial picture for small businesses. Complementing the existing offering, which provides a view of business cash flow and access to real-time expertise and guidance, Business Advantage 360 can now seamlessly integrate data into the dashboard from QuickBooks® Online1, RUN Powered by ADP®2, G Suite by Google Cloud, and Google Analytics3.”

January 15, 2020

On the web

ICICI Bank launches India’s largest API Banking portal with nearly 250 APIs


“The ‘ICICI Bank API Banking portal’, which consists of 250 APIs, enables developers of prospective partner companies across the globe to seamlessly sign up on it, create an application, select the application, test it out and get the sample code. With this, businesses, fintechs, corporates and e-commerce start-ups can easily partner with the Bank and co- create innovative customer solutions in a frictionless manner, all from the convenience of a single portal. The usage of ‘ICICI Bank API Banking Portal’ simplifies the process of digital collaboration for a partner company with the Bank and reduces the time taken to develop a business solution to a few days. This significantly raises productivity for partner companies. Typically, an API integration would take a few months.”

December 19, 2019

On the web

How Shopify Manages API Versioning and Breaking Changes

Shopify Engineering

“At Shopify, we have tens of thousands of partners building on our APIs that depend on us to ensure our merchants can run their businesses every day. In April of this year, we released the first official version of our API . All consumers of our APIs require stability and predictability and our API versioning scheme at Shopify allows us to continue to develop the platform while providing apps with stable API behavior and predictable timelines for adopting changes.”

October 4, 2019

On the wires

TaxCloud Releases New Integration With Stripe

“Today TaxCloud, a leading online sales tax compliance service for online retailers, announced that users of Stripe’s payments platform can now connect to TaxCloud to easily manage their U.S. sales tax obligations. This announcement comes as many more online retailers find themselves having to collect sales tax in additional states since the Supreme Court issued its opinion in South Dakota v. Wayfair in June 2018.”

September 4, 2019

On the wires

NovoPayment Accelerates Digital Payments in Latin America and the Caribbean With Visa Direct and Token Services

“NovoPayment, a Visa Ready fintech partner and leading banking as a service (BaaS) enabler of digital financial and transactional services, today announced that they can now scale the deployment of Visa Direct for instant payments, P2P and P2M payments, account-to-account payments, fast funds and mass payouts, as well as the use of Visa Token Services. The measure currently provides issuers, acquirers and merchants improved time-to-market in the adoption of key Visa solutions via APIs.”

August 26, 2019

On the wires

Citi APIs for Treasury Services Calls Now Over 157M Per Month

“Since the launch of CitiConnect API, Citi has moved over $26 billion for clients using a set of over 50 unique APIs. The pace of CitiConnect API adoption is accelerating, with 18 million calls in November 2018, growing to over 157 million calls by August 2019, representing a growth rate of 750%. Since then, the number of connected clients has increased from 6 to over 55. This growth in API usage is being driven primarily by fintech, telecom, multimedia and technology companies, with the most popular API calls being Account Balance Inquiries, Payment Status Reports, and Making Payments.”

August 13, 2019

On the wires

Digital River Unbundles Its Commerce Stack, Breaking Open an Unparalleled Suite of Possibilities for Merchants and Shoppers Alike

Digital River , the most experienced global ecommerce enabler for established and fast-growing brands, announced today that it has transitioned to a “headless” approach , building out its suite of APIs and microservices. This move enables brands to combine best-of-breed solutions from multiple providers to create a flexible ecommerce offering designed to meet increasingly complex shopper demands globally.”

August 8, 2019

On the wires

Bottomline Announces Open Banking API Suite

GlobeNewswire News Room

“Bottomline Technologies (NASDAQ: EPAY), a leading provider of financial technology solutions that help make business payments simple, smart and secure, today announced the launch of its Digital Banking IQ Intelligent Engagement suite, which empowers banks to engage intelligently with customers, deliver a unified digital experience, and acquire, deepen and grow profitable relationships.”

June 3, 2019

On the wires

JCB Introduces Web API for Merchant Acquiring to Expand Payments Acceptance Across Europe and Beyond With ACI Worldwide

“JCB International .Co. Ltd, the international operations subsidiary of JCB Co., Ltd., and ACI Worldwide (NASDAQ: ACIW), a leading global provider of real-time electronic payment and banking solutions , today announced an alliance to introduce “JCB Web API Service” using ACI’s UP eCommerce Payments solution. JCB Web API Service provides acquirers with a web API-based interface for authorization and clearing with 3D Secure 1.0 / 2.0. JCB Web API Service allows acquirers to connect to the JCB network in an easier and faster manner to accept transactions from more than 130 million JCB cardmembers.”

April 3, 2019

On the web

Stance Lets Customers Use Their Phones to Self Checkout Anywhere in Store

NFC World

“Specialist sock retailer Stance is enabling customers to pay for products on their mobile phones from anywhere in its stores — without them having to visit a physical checkout desk, talk with a shop assistant or download an app. Shoppers use the browser on their mobile phone to navigate to a short URL. They then scan the product barcode and pay on their phone using Apple Pay, Google Pay or a credit card.”

January 31, 2019

On the wires

DFS Lab Announces Open Applications for Fintech Hackathon Focused on the Mojaloop Software

Digital Financial Services Lab (DFS Lab), today announced it was hosting a hackathon in Dar es Salaam, Tanzania April 8 to 12. The Hackathon will offer participants an in-depth look Mojaloop, which is open-source software for financial services companies, government regulators, and others taking on the challenges of interoperability and financial inclusion. Interested applicants can apply on the DFS Lab website here.”

January 29, 2019

On the web

TrueLayer unveils payments API

FinTech Futures

“London-based developer TrueLayer has unveiled an open banking and PSD2 based payments API for consumers and businesses. The API, which is in public beta, offers a new way to pay for goods and services or transfer money. It is an alternative to credit and debit card payments, bank transfers and traditional payments processors.”

Cross River and Railsbank create transatlantic API action

FinTech Futures

“The arrangement will enable the pair to use each other’s existing platforms, allowing for integration and servicing of their respective fintech customer bases across borders and regions. The partnership will also enable Railsbank’s customers in the UK and Europe the ability to enter the US through their existing integration with Railsbank.”

January 28, 2019

On the web

Wirecard launches API developer portal

FinTech Futures

“With APIs as popular as an opened pot of jam to an unruly gang of wasps, the firm is keen to get involved in this craze. Its portal is designed to let customers integrate the Wirecard digital platform into their environments and expand their existing installations. At the same time, the company is announcing an environment for prospects where interested parties will be able to test the functionality of the Wirecard platform to plan and execute implementation.”

January 25, 2019

On the web

SWIFT publishes new ‘Pay Later’ API standard

East African Business Week

“SWIFT has published a standard for ‘Pay Later’ APIs in a key step towards enabling the rapid adoption of an innovative new consumer payment model. “Pay Later’ is an instant online payment facility which offers customers the ability to use traditional bank loan financing to pay for goods purchased online.”

January 23, 2019

On the wires

January 11, 2019

On the web

Otto launches instant online payments for customers

Internet Retailing (UK)

“Using the new API, developed by the retailer alongside Hanseatic Bank, money can be transferred within a few seconds rather than several days for goods on the websites of Otto brands. Otto worked with Hanseatic Bank on the service, which as with other online payments requires the user to fill out a form with the recipient, IBAN, amount and purpose. The customer receives a confirmation that the transfer has been completed within one minute.”

January 10, 2019

On the web

Square takes aim at Stripe, PayPal with new payments kit for mobile software developers


“The Square In-App Payments Kit will work with iOS and Android devices as well as the Flutter cross-platform mobile development system. Developers using the new services will be able allow customers to use Apple Pay or Google Pay as well as regular old credit cards within their own mobile apps, and connect that data to purchases made in their brick-and-mortar stores or on the web.”

January 8, 2019

On the web

January 4, 2019

On the wires

UnionPay International gives global developers access to its APIs

“UnionPay International (UPI) today announced the launch of the UPI Developer, an open platform that gives global developers access to 18 of UnionPay’s cross-border mobile Internet payment products and services in the first phase. Through the platform’s application programming interface (API), developers can integrate UnionPay’s technical services into their products efficiently and cost-effectively, thus providing UnionPay cardholders with more payment scenarios and services and enhancing their payment experience.”

October 31, 2018

On the web

October 3, 2018

On the web

Simple co-founder bids to upend financial world with APIs and a stablecoin


“Simple co-founder Shamir Karkal has taken the wraps off his latest project: Sila, a startup offering fintech firms a suite of APIs and developer tools supported by a dollar-pegged stablecoin. Named for the world’s first ‘token’ – a small bowl used by the Sumerians in 3000 BC to measure a standardised volume of barley – Sila is aiming to overhaul and democratise the financial services world using APIs and distributed ledger technology.”

August 28, 2018

On the web

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