Interswitch, Africa’s leading integrated payments and digital commerce company, recently unveiled an easy-to-integrate Application Programmable Interfaces (API) Platform for developers and merchants.
“Launching our API Platform was driven by the need to make API integration seamless for developers without the bureaucratic hurdles that have characterized the API-integrating system over the past few years,” According to Abdul-Hafiz Ibrahim, Group Head, Engineering, Paymate.
He also added that Interswitch is trying to make its platform available to not just big businesses but also any web developers.
Ibrahim made this known in an interview with BizWatch Nigeria at the API launch of Interswitch. An easy-to-integrate Application Programmable Interfaces comprising the API Platform includes Internal APIs, Partner APIs, and Infrastructure APIs.
See excerpts of the interview below:
Many developers and big businesses have leveraged the Fintech industry since it blooms. How has Interswitch API been leveraged to help developers do their jobs?
While bank consumers buy Data from their banks, financial institutions rely on Interswitch API for smooth transactions. Another example is POS; the POS can call an Interswitch API to help with a consumer transaction.
This API Launch is to encourage developers to leverage this technology. How has Interswitch API been able to revamp small businesses?
Yes, we know not each of our consumers has access to developers. We have developed tools to help consumers create means to collect money. It is an easy-to integrated system. Consumers can sign up, create a link, and forward it to their customers. We also made a platform that allows people to create a virtual store. We have tools that support big businesses but also SMEs.
There is a reason for the unveiling of this API platform right now. What is the projection of this API launch?
Yes, we are trying to empower people with the knowledge of e-commerce from the high to the low level. Our goal is to make transactions possible anywhere and anytime. Interswitch plans to bring more innovation for a continuous, seamless transaction. We also encourage developers to leverage the Interswitch API platform.
What are the challenges Interswitch has encountered?
We experience drawbacks, but we see them as a positive challenge. This is the best time to be a developer in Nigeria.
How accessible is the API platform to an average consumer since the purpose of the launch is for developers to leverage Interswitch’s API platform?
As a developer, you can see all the APIs on the platform and get access keys to integrating them. It is an easy-to-integrate platform that Interswitch thrives on, making it accessible to anyone. We are also trying to shorten the journey between developing and physical business.
Interswitch plans to make the API easy and accessible to the average consumer, but not everyone has access to a developer. Is there a training developer can apply for to learn how to use the API or train young developers?
Yes, it is an idea that is underway. Interswitch plans to train developers to integrate into the API platform. A virtual community helps develop, grow, and answer their questions. Interswitch tries to put enough detail to help developers without issue.
Interswitch is making its Platform easy and accessible to average developers, giving developers the liberty to control their funds and manage them. How does this profit Interswitch or financial institutions if the market is taken from their significant consumers?
Yes, Interswitch would still be making a profit, and so will their major consumers (financial institutions). We have barely scratched the surface of e-commerce infrastructure. Interswitch is bringing more people to financial institutions as transactions still go through these banks. We are all collaborating to help the community.
We don’t see it as taking business from anyone but as opening opportunities for more growth.
Interswitch hopes to bring this API platform to more developers. Regarding scratching the surface of API, is this about innovation or reach?
Five years, people would have to move around to be able to make transactions, but now almost every street in Lagos owns one or two POS. Innovation is fluid, and we are gradually making more and more innovations.
In terms of Reach, we are barely scratching the surface. There is still room for growth and improvement, but we aim for a higher reach.
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