The Latest News On The API Economy

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Open Banking Goes Mainstream

Open banking uses APIs to make services like algorithms, data, identity, processes and other business functionality available to ecosystems of customers, employees, third-party developers, fintechs, vendors and other partners. This article offers four reasons open banking will go mainstream in 2016.

PayPal Concludes First Global Hackathon Series

PayPal has concluded its first ever global hackathon. The Battle Hack series visited ten cities across the world in 2013. Each stop on the tour included a city winner, concluding with a two-day World Championship at PayPal's headquarters. The ten regional winners met at the World Championship with a simple challenge from PayPal: build an application that benefits the community and utilizes the PayPal API.

9,000 APIs: Mobile Gets Serious

The ProgrammableWeb directory marches toward quintuple digits. Having just passed 9,000 APIs, the next milestone ahead looks even bigger. Of course, all the recent milestones look huge compared to the directory at the end of 2005, when it sat at just 105 APIs. In addition to continuing the rise of the enterprise, the latest APIs show mobile as a driving force. At least two previously locked-down categories, payments and messaging, are now being changed by APIs.

How APIs Are Fueling the Mobile Banking Wars

While some folks tend to think about APIs are being little bits of arcane code that only developers care about it, the truth of the matter is that billions, possibly even trillions, of dollars are at stake in what will soon be a series of API wars. In no place is this more important than in mobile banking, where companies ranging from Google, the PayPal unit of eBay and lesser known entities such as MineralTree are all vying to usurp the role of traditional financial institutions.

PayPal Buys Itself an API

Without the dot, "cardio" is Rule #1 in Zombieland. With the dot, is PayPal's latest acquisition: the startup formerly known as Lumber Labs, whose technology allows developers to integrate credit card payments into any iOS or Android app with no additional hardware.

Money APIs Power The New Wall Street

From billion dollar companies to the neighborhood coffee shops, merchants of all sizes are seeking new ways to offer secure and affordable mobile payments systems that expand their ability to conduct business. The PayPal API got its start this way, first with online auctions, then with thousands of websites and individuals. It's now one of over 150 payment APIs, many of which exist outside of traditional finance.