Stripe, a technology company that builds economic infrastructure, has recently announced a new Issuing API and Partner Program. Stripe's new API provides infrastructure for issuing physical and virtual cards via a single API call. The company's new partner program aims to provide members with documentation and best practices, along with an avenue for promoting integrations.
The Stripe Issuing API allows for streamlined creation, distribution, and management of virtual and physical cards. Although Stripe intends to stay use-case agnostic, the potential integrations are vast. A Stripe representative told ProgrammableWeb that customers have shown interest in using the API for many things, including fulfillment (e.g. an on-demand delivery company could issue cards for its couriers to purchase items before delivering them to the customer). Another example is corporate spending, allowing a company to issue cards to employees and manage budget spending and tracking. You can also imagine this being useful with payouts, for example, a ride-sharing platform could issue digital cards to drivers for payments.
Concerning data security and privacy Stripe told ProgrammableWeb that, "Stripe Issuing includes rigorous authorization practices (i.e. controls are a per-card basis to manage spending and dispute purchases), fraud prevention, and data protection."
Stripe has provided detailed documentation with code examples in curl, Ruby, Python, PHP, Java, Node, Go, and .NET. Using this documentation, developers are guided through the process of creating a new cardholder, creating a new card, activating the card, and managing cards.
The API is currently available by invite only, but developers are encouraged to request an invite
Stripe Partner Program
The Stripe Partner Program further bolsters the support provided to users that are looking to integrate Stripe APIs. Beyond the documentation that we already discussed, this program provides technical best practices and suggested go-to-market strategies. Perhaps more importantly, the partner program appears to signal a long-term commitment to the support of the company's APIs, an important consideration whenever thinking of investing in a platform.
Stripe also offers a paid tier to their partner program, Stripe Verified Partner. This option provides inclusion in the Works with Stripe partners gallery, co-branded marketing resources, and improved support on behalf of your customers.
Virtual Card APIs Proliferate
Stripe certainly isn't the first to offer an API for Virtual Card Issuing. ProgrammableWeb reported on Marqeta's offering all the way back in 2014. As recently as a couple weeks ago Privacy.com, a payments product known for keeping personal information private, announced their virtual card APITrack this API. Even legacy banks such as Capital One are beginning to get in on the gameTrack this API.