Moneycorp opens payment services API

Moneycorp has announced that it has opened its Application Programming Interfaces (APIs) for new and existing customers. By opening up previously proprietary payments services, businesses will now be able to integrate directly with the platform to facilitate electronic account, balance, and beneficiary and payment management.

The company says that the API will allow users to:

• Manage multiple tiered accounts.
• Manage balances in a multi currency wallet for each account.
• Make payments out via multiple banking rails internationally.
• Make instant internal transfers across the moneycorp network.
• Discover the mandatory detailed requirements for each payment country.
• View transaction activity for accounting and reconciliation purposes.

Businesses that sign up to the API will be provided with a sandbox for testing in a safe and isolated environment. Phase 2 of the programme will begin shortly and include the integration of moneycorp’s multi-bank dealing service, allowing customers to convert currency quickly and benefit from rates from its 18 partner banks.