what is payment api
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1,111,111 TRP = 11,111 USD
1,111,111 TRP = 11,111 USD
1,111,111 TRP = 11,111 USD
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A Payment API (Application Programming Interface) is a set of protocols and tools that enable seamless, secure transactions between different software systems, such as e-commerce platforms, banking apps, or mobile wallets. It acts as a bridge, allowing businesses to process payments without building their own infrastructure from scratch.
Key Features:
Integration: Connects merchants with payment gateways (e.g., PayPal, Stripe) or banks.
Security: Uses encryption (SSL/TLS) and compliance standards (PCI-DSS) to protect sensitive data.
Automation: Processes real-time payments, refunds, and recurring billing.
Multi-Channel Support: Works for online, in-app, or point-of-sale (POS) transactions.
How It Works:
A customer initiates a payment (e.g., via “Pay Now” button).
The API sends the request to the payment processor, which verifies funds/credentials.
Confirmation is relayed back to the merchant and customer.
Benefits:
Speed: Transactions complete in seconds.
Global Reach: Supports cross-border payments and multiple currencies.
Scalability: Handles high transaction volumes.
Popular examples include Stripe API, PayPal REST API, and Flutterwave (Africa-focused). Payment APIs power modern digital economies by simplifying financial interactions.