An Application Programming Interface – or API – is a way for one software application to talk with another software application securely over the Internet. By doing so, enhanced functionality can be provided for the end user – like when a non-Google app shares a Google map with you.
Why should you care?
APIs are one of the threads in the fabric of today’s highly interconnected online world. They are the reason why you do not need to go to a different website to pay or ship your order when shopping online. Thanks to APIs it all happens in one place with a seamless experience. APIs help provide that connected-to-the-universe experience that you feel when you use an app on your smartphone.
How do they apply to Payments?
The use of APIs is nothing new, but if you hadn’t already noticed there is an increased buzz within the payments industry about them at the moment. Part of that is down to forthcoming regulatory changes such as PSD2 and Open Banking – where, amongst other things, banks will have to open up their data for approved third parties to consume via APIs – but there is also an increasing excitement around the way in which they could be used more generally right across the industry to open up new opportunities for businesses and their customers.
Here at CORVID PayGate we’re no different. We’re excited about how we can extend this concept to ensure that we continue to provide you with a full range of options for you to securely manage all of your payment needs, in whichever manner best works for your business.
We’ve provided API access for Validate (our payment validation service) for some time now – allowing you to build those services directly into your own web applications, ensuring data accuracy at the point of capture and thereby helping you to reduce the cost of failure (for example, reducing the volume of failed direct debit collections & the associated cost of correction and representation.).
We aren’t stopping there.
We’re now pleased to announce the first phase of APIs that open up wider access to our core platform, enabling you to communicate with PayGate with increased flexibility whilst still retaining security.
These first APIs allow you to access our UK Direct Debit Management System. They are designed so that you can directly connect your web-based sign-up platform to PayGate – allowing payer records to be created, payer information to be exchanged, and payment plans to be updated…all without any manual interaction required.