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.
Payleven, the Square equivalent for the world outside of the US, has launched an API to complement its mobile payment device. Prior to the API, use of Payleven's mobile payment device required downloading the Payleven app (similar to Square's current model). However, the API allows developers to integrate Payleven's functionality within third party apps.