Of all the markets being impacted by the booming API economy, perhaps none has seen as much activity and innovation as the payments space. The past several years have seen the launch of a number of disruptive and successful API-centric upstarts, including Stripe and Balanced. Meanwhile, entrenched players like PayPal and Verifone have responded with new offerings of their own.
Mobile payment service Venmo, which is owned and operated by PayPal, abruptly shut off new developers from its public API, which handles payment invoices and distribution of receipts to external web services. Venmo had created confusion after first stating that it was shuttering its API altogether.