The Payment Initiation API Specification describes the flows and payloads for initiating a single immediate domestic payment. The endpoints allow a PISP to; Register an intent to setup a payment instruction, Subsequently submit the payment instruction for processing and Optionally retrieve the status of a payment setup or submission. Open banking provides a way to share customer information securely with personalized financial advice to third party providers.
This article is part of a series about interesting APIs that were added to our directory during 2017. Finance, Payments, Blockchain and Banking APIs are covered in this segment. The APIs were chosen by our researchers, by popularity according to website traffic, and by mentions on social media.
Ulster Bank has introduced a new banking open API and portal for developers. The Ulster Bank API allows third-party applications to access limited customer information, initially customer balance information and the last six transactions, upon request and consent of the customer.
Open Banking has launched two API specifications; Accounts and Transaction Information and Payments Initiation. These API specifications will allow banking customers and small business to share their financial data with third-party applications, and will be live from January next year.