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A Tale of 3 Financial APIs: Venmo Closes, BBVA Opens, NPCI Builds Further

When TechCrunch reported that Venmo had abruptly killed its developer API access, I was quite surprised. But then I thought that API is not an easy business to manage; it takes a team to launch or open up APIs but it takes much more to maintain it day in and day out, month over month. It’s a thankless job; continuity of service requires a lot of effort that goes behind the service. If there’s even a single hitch or if the API has downtime, the customer fallout is heavy. It was later clarified by Venmo that existing developers would be able to continue using the services while the developer API has been shut for new developers.

But the question still remains. Why would Venmo shut down its API for (even) new developers. Was it just that its management and upkeep was too much to handle given other priorities. Maybe (thinking aloud) security vulnerability had a role to play? We know that they had struggled in the past with a couple of lapses that

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