As more and more businesses move online, the need for secure and efficient payment processing becomes even greater. That’s where an AP driven payment platform comes in. By using an API, businesses can easily integrate payment processing into their existing systems. This can save a lot of time and money, as well as provide a seamless experience for customers. An API driven payment platform can also be used to create new customer experiences, such as in-app payments or point-of-sale transactions. And because an API is highly flexible, businesses can easily customize their payment solutions to meet their specific needs.
With Green Dot, Marqeta, Stripe, Hyperwallet, Fiserv, Push Payments and others all offering an API driven payment platforms, It is interesting to note that Bottomline Technologies, headquartered in the USA, has focused on delivering its API driven payment platform to the UK market:
“Bottomline Technologies (NASDAQ:EPAY), a leading provider of financial technology that makes business payments simple, smart and secure, today announced the release of enhanced application programming interfaces (APIs) for its PT-X payments platform. The PT-X payments and business solution suite is a cloud-based platform that is widely used by companies across the UK to operate their accounts payable, accounts receivable and payroll operations. PT-X enables banks and businesses to connect to various payment schemes in the UK such as Bacs Direct Credit, Direct Debit and Faster Payment Services.”
Perhaps the opening up of Europe’s baking industry under PSD2 has simply made the Fintech space there more compelling, but Mercator’s analysis suggests that the opportunities here in the US are also large and rapidly growing for solutions capable of addressing specific payment use cases such as 1099 disbursements to low and moderate income employees.
Overview by Tim Sloane, VP, Payments Innovation at Mercator Advisory Group
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