Mastercard recently announced the Mastercard Innovation Engine. The engine acts as a marketplace for next generation digital customer experiences. The marketplace allows Mastercard and collaborators to offer API access to customer-focused digital experiences through plug and play solutions.
Why is it that the most common questions people have about providing open APIs are often about monetization? While there are many possible answers, two reasons that stand out are: a) the API is a distribution channel, and when you think new distribution channel there is an expectation around revenue opportunities; and b) if you are the person in your company trying to define the business case for an API to the executive team, there is a big hurdle to overcome, because business executives tend to see an API as a cost center and want to know how to measure the pay-off.