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34 APIs That Startups Should Consider Before Building Any FinTech Product in 2019

Updated by September 11, 2019

In its most basic form, API is a set of subroutine definitions, communication protocols, and tools for building software. In general terms, it is a set of clearly defined methods of communication among various components. APIs make it easy for a developer to write a program by using the already defined set of functions. APIs are the infrastructure that developers use to build applications to access content and other services. Banks and other financial institutions are sharing codes through application programming interfaces of software gateways that allow applications to work together. APIs are a bank’s tool for survival and relevance in a smartphone-first world. So making it open to outsiders is pretty much like inviting the competition to come in and read the insider’s note. However, industry watchers say that offering an open API is not a deterrent. Instead, it lets fresh-off-the-boat tech companies and ever competitive developers innovate much faster on the built platform, as opposed to keeping their app development limited to compliance-inhibited, resource-strapped IT organizations.

Most FinTech companies now float their products on cloud services so that they can access API data like an on-premise database. If it’s on the cloud, it’s on their fingertips.

Braintree

Braintree’s Partners APIs provides users with an integrated way to start accepting payments using the Braintree payments gateway. The API allows users to sign up seamlessly from within applications and get instant approvals so merchants can easily receive the credentials on a user’s behalf, basically everything required to process a transaction. 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.

CardConnect

The CardConnect API allows secure acceptance of a wide range of credit, debit, and alternative payments. Instead of a high flat rate, CardConnect uses “interchange plus” pricing as processing costs. 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. CardConnect’s partnerships throughout the world allow it to offer global pricing and operate in different currencies internationally. CardConnect’s reach includes Canada, Japan, and 18 European countries with more in the very near future.

Dwolla

The Dwolla API provides an interface to integrate the Dwolla payments platform into a software application. Dwolla is a payment processor that provides a web-based platform that allows users to send, receive, and request funds from any other user. Dwolla can be used to share money with friends through Facebook and Twitter. Users can also purchase goods and services through the web and mobile devices. The API provides developers with the functionality to send, request, and retrieve account history and send money between Dwolla accounts.

Google

The technology giant offers exclusive Wallet APIs which enable the integration of its popular Google Wallet services. The APIs help streamlines purchase flow across mobile apps and websites. Two major API offerings in ...

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