According to research carried out by the company, the number of API endpoints offered on its platform tops payments leaders such as Visa, PayPal, Stripe, Square, and Kabbage. MasterCard, WeChat, and Alipay, other payments leaders, were not included in the current research, and will be pursued in the future.

The research was motivated by an intense study of PSD2, and particularly looking at the minimum number of API endpoints required by the directive for compliance. From here, the company researched the number of endpoints offered by other businesses in the payment processing sector. According to the directive, companies and institutions need to have a least 30 API endpoints to comply.

When SDK.finance discovered they were ahead of many industry leaders, they were surprised and happy to discover they were at the forefront, a position they strive to maintain.

API endpoints: why so important?

The number of APIs is important because the higher the number, the more programmes can communicate with one another in a faster and efficient manner. “API is a way for programmes to effectively communicate with each other”, says Pavlo Sidelov, CTO of SDK.finance, “[i]t is an infrastructural foundation in a system similar . . . to the electrical grid in a city. Just as a modern city cannot exist without electricity, a modern bank/payment provider cannot survive without API.”

Alex Malyshev, SDK.finance’s CEO, additionally noted the differences between newer fintech outfits and older, more established companies regarding APIs and perspectives by saying that:

“What also captured our attention was the fact that Stripe, though 12 years younger than its peer PayPal, was almost twice as big as the latter in terms of API. And that is indicative of the following: the more mature companies were built with one focal point — customers only — while a younger generation of companies, on the other hand, tend to account for developers’ needs as well.”

About SDK.finance

The company launched in 2013 in the Czech Republic, and its payment platform gives fintechs, banks, and payments providers the ability to roll-out loyalty or payments products 5-10 times fasters than industry standards, all while decreasing CAPEX by 90%.

The platform also allows companies to build applications that are scalable, modular, adaptable, and quickly accessible. Products that can be built include electronic wallets, payments services, P2P money transfers, and currency exchanges.

The company has clients spanning the globe, including in the USA, Canada, Ukraine, Azerbaijan, Spain, Ireland, Ghana, and Singapore.