The Faster Payments Council recently released Real-Time Payment Application Program Interfaces (APIs), aimed at identifying best practices for instant payment APIs. The new report focuses on API connectivity between corporate originators and payment providers, such as financial institutions and third-party payment processors.

These insights were used to identify commonalities for API usage across the globe and were reviewed against a variety of stakeholder perspectives to identify best practices for the development and use of secure APIs to originate instant payments in the U.S. market. It was not part of the work group’s effort to create API standards as there are already such efforts underway. Rather, the work group focused on providing best practices that could be applicable to support any of the standards and/or proprietary APIs that are being developed in the industry.

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