Faircent.com, a P2P lending firm is planning to open its API platform to developers. This move will help new offline businesses and fintech entrants to leverage the company’s infrastructure to help make new digital lending products.
Because of this, their innovation will help existing and emerging lending companies in the country to provide innovative customer-centric solutions.
Faircent’s API platform will become open to multi-tenant developers. By this system, the intermediaries can share data that are collected with its partners and developers, as well as the third party service providers.
This data is then used to make value-added services such as analytical dashboards, mobile payment solutions and more.
How do I find a payment API for P2P transfers
Whether it’s making in-store purchases, paying bills, paying back a friend, or splitting bills, using APIs for P2P make the art of receiving and sending money flawless. They work by connecting to your financial institution account whether its a debit or credit card. Plus, you can rapidly transfer your money at any time.
This is because the peer-to-peer ecosystem can only grow if it allows their users to thrive. Basically, when choosing for a P2P payment, the API must be developed enough to provide opportunities, efficiency, and reliability.
It should help you with finding ways to incentivize multiple stakeholders to join in. Most importantly, it the system must be facilitated to ensure the future success of your business or project.
A good P2P payment should create a streamlined and easy onboarding process for users while making sure their customers benefit from this method. Most of the P2P payments are made simple and have easygoing methodologies.of the
This system gives you a way to integrate existing systems with p2p events. We highly suggest that you look for a superior technology payment API that integrates to other digital applications/solutions for a seamless user experience and better application usage.
What are some examples of APIs for P2P?
Surprisingly, some of the payment processing apps we use have this concept behind it. Here are some popular APIs for P2P that have been used by businesses and personal user alike:
- Venmo – A payment platform that’s used for P2P repayments within Venmo’s web browser or through Venmo’s phone app.
- Popmoney – A P2P system for businesses and customers. It also acts as an integration solution for fintech and financial firms.
- Square Cash – A free-to-use P2P platform owned by Square. It’s a payment solution and credit card processor for small and enterprise organizations.
- Dwolla – Dwolla enables real-time payments by giving a real-time payments system for participants within the financial scene.
Conclusion
For the fintech industry, Faircent’s new development is a huge step. This means that businesses can serve their customers better, fix problems, while also providing a dedicated payment server.
As a result, the consumer wins. The consumer has a better way to spend and receive money. Since its a secured platform, your information will only be used to complete transactions from trusted and verified companies. Thus, the APIs for P2P services will increase in demand and impact within the following years.
