Mastercard are using our tech via APIs
APIs, short for application programming interfaces, power these connections, enabling organizations’ digital infrastructures to talk to each other in a systematic and scalable way. Mastercard was one of the first large financial services companies to make our APIs externally available through a dedicated developer portal, Mastercard Developers. Through easy sign-up, thorough documentation, adherence to strong API industry standards and self-service tools like sandbox access, tutorials and online chat, we are open for business and ready to collaborate with every player in the ecosystem, including the fintechs seeking to rise to the next level.
It's not surprising given the rate of digital acceleration that fintechs, including many of our Start Path startup engagement participants, have shown interest in APIs such as In Control for Commercial Payments, which creates virtual card numbers for commercial card payments, making invoice tracking and reconciliation between buyers and suppliers more seamless.
To accelerate innovation, we must accelerate this kind of collaboration. APIs are essential because they enable anyone, from large financial institutions to the scrappiest startups, to easily plug into digital solutions to create better experiences for consumers. But to maximize that potential, we look to deliver “open” APIs.
This is an emerging trend in financial services where open banking regulations, such as PSD2 in Europe,allow secure access to banking information, with consumers’ permission, to deliver more innovative products and services. These are APIs that are available to even the smallest fintech that dreams big. Payments are built on trust, so as Mastercard open APIs fuel even faster innovation, this must be done in a secure, controlled way that adheres to our principles on data access.
https://www.mastercard.com/news/perspectives/2020/accelerating-fintech-innovation-through-open-apis/White-labelling mentioned as well...
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