Banks 'Treating APIs As Compliance Exercise', Claims Paysafe

Too many banks are treating the development of application programming interfaces (APIs) as a compliance exercise, hampering uptake of third-party payment services, industry insiders have argued.

A paper published by Paysafe on Monday urged national and EU-level authorities to step in and ensure banks’ interfaces actually give the boost to competition envisaged by the revised Payment Services Directive (PSD2).

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