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14 Payments APIs that Made Waves in 2014

Xignite

Let's Talk Payments APIsThe payments industry is embracing a range of disruptive payment systems that are changing the way we pay, especially as digital payments becomes mainstream. But the core of the payments systems is something that should not be ignored. A large number of developers are coding away to develop the next generation of payment experiences. All of this is supported by powerful APIs that payments companies have specially designed to enable the creation of digital and futuristic platforms for payments innovation. Here are some companies whose payments APIs are making the waves:

Apple

2014 saw the advent of a secure and convenient way to pay at stores using an iPhone 6 or 6+ with NFC and finger-print Touch ID. Apple Pay is helping users avoid the hassle of carrying a physical wallet and to conduct payments in a secure manner. Apple has provided APIs and SDKs to third party developers to allow them to integrate Apple Pay in their apps. This has seen Apple Pay integrated in a number of payment systems, especially in the case of in-app purchases. More and more banks have been able to integrate Apple Pay thanks to the APIs. This powerful Apple Pay feature will further boost its upcoming international expansion.

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 payments processor that provides a web based platform which 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 streamline purchase flow across mobile apps and websites. Two major API offerings include:

Instant Buy: this API provides a cloud-based method to access and store payment information. 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.

Wallet Objects: this API is a simple platform to connect businesses to millions of Google users and showcase loyalty programs, offers, and more. 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.

Intuit

The company offers the quickbooks Online API which allows developers to leverage the huge amount of financial data that businesses create within quickbooks. Intuit also offers the Customer Account Data API which, along with the QuickBooks Online API, provides developers with programmatic access to data from more than 19,000 financial institutions. Using these APIs, developers can create third-party applications for QuickBooks which can be offered to consumers through the Intuit Apps.com app marketplace.

iZettle

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. iZettle itself is a mobile, tablet, and web-based payment application. Users can accept payments via mobiles, tablets, and the web with iZettle. iZettle also offers dedicated APIs for integrating support for chip-based card payments. iZettle already offers a mini chip-card reader. Developers can use the chip-card APIs to enable apps to access the card reader and turn the phone into a terminal.

Marqeta

In November last year, payments innovator Marqeta introduced an open issuer processing Payments API. 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. Developers can access all of these features using Marqeta’s open APIs.

MasterCard

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:

Simplify Commerce: enables acceptance of e-commerce and mobile commerce payments, regardless of the payment brand.

MoneySend: enables money transfer service through multiple access channels.

Mobile UI SDK: can be integrated into a proximity payment mobile UI application to enable mobile banking and mobile wallet service.

rePower: allows participants to add funds to accounts through various points of deposit.

MasterPass – Merchant Checkout: enables online checkout by retrieving payment card information from a digital wallet in the MasterPass network.

Western Union Money Transfers: enables financial institutions to send and receive money transfers using Western Union Agent Network.

PayPal

The REST APIs by PayPal allow the integration of the popular payment processing system into a web oriented checkout system. PayPal also offers mobile SDKs for iOS and Android that make use of the REST APIs. The REST APIs allow payments either using PayPal credentials or using traditional payment cards as well. 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 payments, 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.

Square

In 2014, Square publicly opened its Connect API to allow merchants and third-party developers to create apps and tools around Square’s platform. Merchants can use Connect API to retrieve activity reports for processed payments, refunds and deposits. Square itself received a massive $150 Mn in funds in 2014 and has offered a number of new services like Square Cash and Square Order. Moreover, the company has also come up with upgraded versions of mPOS hardware solutions. We certainly expect Square to offer even more solutions in 2015, from an API perspective.

Stripe

APIs by Stripe lets developers integrate payments within their website or apps. Stripe already went global in early 2014 supporting more than 130 currencies. With Stripe, a customer in South Africa can make purchases from a Stripe-using merchant in UK. 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 March 2014, Stripe has earned itself a reputation for offering hassle-free online payment APIs to address businesses of all sizes.

Visa

Visa first launched the “V.me” digital wallet solution in collaboration with Nationwide in UK. V.me allows the user to store card information for multiple credit and debit cards from Visa, Mastercard, american express and Discover along with the ‘Bill to’ and ‘Ship to’ addresses for each of the cards. V.me allows making purchases with a single sign-on which is secure across all channels and devices. All of this is possible through the V.me APIs which makes the integration seamless across platforms.

Yodlee

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:

Instant Account Verification API – This API is used to enable developers to reduce fraud and risk and also reduce friction. 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.

Aggregation API – Enables developers to get access to randomized and securitized bank data through the ability to aggregate accounts, whether it’s an investment account, a bank account, a credit card account, a rewards account, an insurance account, or some other account.

Besides the above two, the company has launched an Enterprise API, custom-built and co-branded for individual financial institutions. Yodlee’s API also allows geo-location information to be added to financial data.

Another noteworthy mention:

Xignite

Xignite APIs are used by over 40 startups with the clientele including companies such as Betterment, Wealthfront, Personal Capital, Yodlee, Oracle, SAS, Sungard, Charles Schwab, Navy Federal Credit Union, TD Ameritrade, Brinks, GE, and Starbucks. A particular API of the company called the ‘FactSet Fundamentals’ one of the first REST-based APIs to provide accurate and trusted historical financials, fundamentals, earnings and more across more than 170 global exchanges. FactSet Fundamentals joins more than 40 other APIs for financial services in Xignite’s API library. APIs from Xignite provide back-end data integration, powering a lot of financial service ventures.

Final Note

The API model is at the core of a cloud-based delivery model and at the heart of the connected businesses of tomorrow.

Source: Let's Talk Payments 

RECENT NEWS

By Max Bowie - Waters Technology

NICE Actimize has fortified the datasets available for use in its Surveil-X trade surveillance tool, using exchange prices and other data from Swiss vendor SIX, delivered via Xignite’s new suite of microservices for content distribution and data management.

The vendor is preparing to go live with the joint solution “any day now,” after completing some final data validation, says Sam Sundera, head of future business at SIX, who is based in the San Francisco Bay Area, and is responsible for dealing with partners, new technology data and initiatives, and with banks’ innovation labs.

A subscription to Waters Technology is required to read this article.

07/23/2020

The Two Companies Deliver Industry’s Largest Global Coverage Sourced from 1,800+ Trading Venues Via Hyper-Scalable Cloud APIs

Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology companies, and SIX, today announced a strategic partnership. Xignite and SIX are now offering real-time data from the catalog of SIX which includes 1,800+ global exchanges and trading venues via Xignite Enterprise Microservices, a suite of cloud-native market data management services built to transform how firms store, distribute, manage, and control market data in the cloud. The partnership accelerates the transition of large financial institutions and fintechs to the cloud. This is the first time such a comprehensive set of market data has been offered to the market via a native cloud solution.

Xignite’s battle-tested cloud-native solution currently serves more than 12 billion API calls per day to 750 clients around the world--making it the largest cloud API platform in capital markets. Xignite recently introduced Xignite Enterprise Microservices, a suite of vendor-agnostic services large firms can deploy to migrate their market data infrastructure and any of their existing data sources to the cloud.

“Large financial institutions have been looking for cloud-native market data solutions capable of handling their broad coverage requirements and offering a state-of-the-art customer experience.” says Stephane Dubois, CEO and founder of Xignite. “The pandemic has worsened the situation as firms want to get away from maintaining complex and expensive on-premise infrastructures that are overkill for most of their needs,” added Dubois. “We had the enterprise technology but not the coverage, so partnering with SIX made sense. We are thrilled to partner with SIX and be first to market with a true global enterprise solution.” 

SIX is one of the few market data vendors offering full coverage of the global capital markets. The Market Data Feed (MDF) from SIX delivers a steady stream of global market information that is consolidated, standardized and in real time. With MDF clients get access to over 30 million instruments across all asset classes and from more than 1,800 exchanges, OTC markets, and other trading venues. The combined solution integrates the MDF feed from SIX delivered from hosted collocation facilities to Xignite Enterprise Microservices deployed in the client’s own cloud account. The Xignite Real-Time Microservice is used to distribute real-time data internally or externally from the cloud via scalable APIs while the Xignite Entitlements and Usage Microservice provides control and transparency of data consumption and usage.

“Partnering with Xignite is a great leap for SIX in making its market data easily available to all buy-side and sell-side professionals. While making the richness, depth and wide coverage of our Market Data Feed available via Xignite’s cloud-based solution, we offer clients streamlined access to the highest quality data without a complicated acquisition process, burdensome integration or costly development,” commented John McManus, Head Sales, Financial Information, SIX.

About Xignite

Xignite Makes Market Data Easy. Xignite is leading the disruption of the market data industry with its AWS-based financial data distribution and market data management solutions. Xignite’s Market Data Cloud platform provides market data managers full transparency on the usage of a firm's first-level real-time and reference data - making it easy for data owners to entitle, control consumption, comply with licensing requirements, allocate costs, and resolve vendor audits or invoice discrepancies. Xignite also powers financial data-driven robo-advisors, online brokerages, and investing apps with its real-time, delayed, and historical pricing data offered via 500+ REST Cloud APIs. Visit http://www.xignite.com or follow on Twitter @xignite.

About SIX

SIX operates and develops infrastructure services in the Securities & Exchanges, Banking Services and Financial Information business units with the aim of raising efficiency, quality, and innovative capacity across the entire value chain of the Swiss financial center. The company is owned by its users (122 banks). With a workforce of some 2,600 employees and a presence in 20 countries, it generated operating income of CHF 1.13 billion and Group net profit of CHF 120.5 million in 2019.
 www.six-group.com

07/23/2020

Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology companies, announced today it has created a new program to assist early stage and start-up financial technology companies during the COVID-19 pandemic. To apply for this program visit https://www.xignite.com/fintech-development-program/

The costs associated with developing and launching fintech products and apps can be daunting, even in the best of times. A particularly challenging aspect can be the procurement of quality financial and market data. Hidden fees, restrictions on the use of data, poorly written APIs and exchange requirements are just some of the factors, in addition to costs, that can make it difficult for new or small fintechs to survive.

To assist early stage fintech companies, Xignite is inviting these disruptors to leverage the same technology and data APIs that have helped move the industry forward over the last decade. Through this program, companies can continue to develop their ideas and products without a significant capital commitment. Participants will be able to take advantage of development access for 60 days on Xignite’s most popular financial data APIs and enjoy significant discounts on fees for the first year. Also included in the program is access to real-time, 15-minute delayed and end-of-day stock prices, company data, currency exchange rates, indices, corporate actions and master data.

“Not only are we offering a compelling financial incentive, but companies will have access to the experts on our Product and Engineering team who not only first brought financial market data to the cloud, but also helped support and power some of the biggest disruptors in the industry such as SoFi, Robinhood and Betterment,” said Ryan Burdick, Senior Vice President and Global Head of Sales at Xignite. “By introducing this program, Xignite is able to support the next wave of entrepreneurs by helping to keep their visions moving forward as seamlessly as possible during this unprecedented time.”

About Xignite

Xignite Makes Market Data Easy. Xignite is leading the disruption of the market data industry with its AWS-based financial data distribution and market data management solutions. Xignite’s Market Data Cloud Platform provides market data managers full transparency on the usage of a firm's first-level real-time and reference data - making it easy for data owners to entitle, control consumption, comply with licensing requirements, allocate costs, and resolve vendor audits or invoice discrepancies. Xignite also powers financial data-driven robo-advisors, online brokerages, and investing apps with its real-time, delayed and historical pricing data offered via 500+ REST Cloud APIs. Visit http://www.xignite.com or follow on Twitter @xignite.

07/14/2020

NICE Actimize Gains Agility and Scalability Bringing its Real-time Market Data Infrastructure to the Cloud

Xignite, Inc., a provider of market data distribution and management solutions for financial services and technology companies, today announced the launch of Xignite Enterprise Microservices, a powerful suite of cloud-native market data management services built to transform how firms store, distribute, manage and control market and financial data in the cloud. NICE Actimize, the leading global provider of financial crime, risk and compliance solutions is the first user of the new Real-time Microservice solution.

Microservices are an architectural approach in which core functionality is handled by loosely coupled, independently deployable components that can work together or separately. Because you can deploy microservices as separate functional units, you can pick and choose the functionality you want and scale them massively at the lowest possible cost. Microservices stand in stark contrast with monolithic platforms that require many dedicated on-premise servers which are expensive to manage, often under-utilized, can’t scale on-demand and require frequent updates and upgrades for even minor changes. Most enterprise platforms also require firms to pay for capabilities that are not needed.

The Xignite Enterprise Microservices run on Xignite’s battle-tested cloud-based architecture that currently supports more than 250 different data sources and 12 billion API calls per day for over 750 fintech and financial services clients. Financial institutions can now leverage the same cloud technology Xignite has been refining and scaling for more than 10 years to move their own financial and market data to the cloud. Xignite’s microservices are built from the ground up for the cloud, in contrast with legacy data providers that are attempting to “lift and shift” their monolithic platforms for that purpose.       

Xignite Enterprise Microservices are vendor-agnostic and can bring transformative results to any data set a firm may license or collect from vendors such Bloomberg, FactSet, ICE Data Services, SIX Financial, Vela Trading, QuantHouse and many others, as well as in-house proprietary data.

“We are incredibly excited to launch Xignite Enterprise Microservices, which we believe will truly revolutionize market data management,” said Stephane Dubois, Founder and CEO of Xignite. “The culmination of over 10 years of nonstop innovation, we have taken the cloud-native architecture that has powered some of world’s most prominent fintechs and scaled it to meet the unique requirements of institutional players that consume huge amounts of data but often have no way of integrating and optimizing it in an efficient and cost-effective way. Firms are no longer required to hitch their wagon to a single provider – instead, they can use a combination of our microservices to secure all the benefits they would get from a rigid legacy offering. We are the only vendor offering a suite of market data management microservices that clients can mix and match to create a comprehensive, infinitely scalable cloud-based solution that meets their exact needs. We firmly believe that offerings like these are the future of market data, and we are thrilled to once again take a leading role in the financial services industry’s continued digital transformation.”

The suite includes seven cloud-native microservices targeted to buy-side, sell-side and fintech firms, as well as exchanges:

  • Xignite Data Lake Microservice is a cloud-native data management and distribution solution that centralizes existing data and enables financial services firms to provide easy access to the data via highly scalable cloud APIs, reducing costs and improving efficiency by eliminating legacy infrastructure.
  • Xignite Optimization Microservice is a cloud-native pricing and reference data cost optimization solution that enables the control of large reference data sets, such as Bloomberg Data License, via intelligent caching, sophisticated entitlements and advanced analytics and reporting.
  • Xignite Entitlements and Usage Microservice is a cloud-native market data access control and reporting solution that enables financial services firms to have complete control and transparency of data consumption and usage, and provides reports of data usage across various data sets, users and applications to ensure vendor compliance.
  • Xignite Reference Microservice is a cloud-native solution that aggregates, normalizes, stores and indexes reference data from multiple vendors across all asset classes into a centralized repository and access layer, enabling centralized access across the entire enterprise and improving data consistency, completeness and timeliness.
  • Xignite Historical Microservice is a cloud-native time-series data management solution that enables financial services firms to capture historical data from different sources and integrate with security master and corporate actions data to provide a fully normalized, stitched and adjusted historical data view via highly scalable cloud APIs.
  • Xignite Real-Time Microservice is a cloud-native real-time data distribution solution that enables financial services firms to distribute real-time data internally and externally via highly scalable and flexible cloud APIs, eliminating on-premise infrastructure.
  • Xignite Fundamentals Microservice is a cloud-native data management solution that enables financial services firms to capture simple or complex time-series data structures associated with an entity such as a regional level security or issuer, and make them available via specialized and highly scalable cloud APIs.

These microservices are already transforming how the industry manages data. NICE Actimize, a leading provider of financial crime management solutions, has replaced its legacy solution with the Xignite Real-Time Microservice to onboard and manage multi-asset class, level 1 and 2 co-located feeds from multiple sources.

The launch of Xignite Enterprise Microservices is the latest highlight in what has been a hugely successful year for the firm. Last month, Xignite received a patent for its alerts technology and the company was named a SIIA CODiE Awards finalist and added to the WealthTech 100 list.

About Xignite
Xignite Makes Market Data Easy. Xignite is leading the disruption of the market data industry with its AWS-based financial data distribution and market data management solutions. Xignite’s Market Data Cloud platform provides market data managers full transparency on the usage of a firm's first-level real-time and reference data - making it easy for data owners to entitle, control consumption, comply with licensing requirements, allocate costs, and resolve vendor audits or invoice discrepancies. Xignite also powers financial data-driven robo-advisors, online brokerages, and investing apps with its real-time, delayed and historical pricing data offered via 500+ REST Cloud APIs. Visit http://www.xignite.com or follow on Twitter @xignite.

07/08/2020