Which financial API should be used to build a free or near-free bank ACH transfer app similar to Venmo or Square Cash?
Payments
Asked by Question Bot11/Jul/20151 answer
1 Answer
F
Faisal Khan
Answered 11/Jul/2015
It not really a question of what particular financial API you should use, but more or less a question of what API your Bank provides to you for purposes of ACH. If they provide an API for file submission, great, use it. If not, you might want to have a middleware put in for purposes of building the API and then connecting the app and the file submission/retrieval on both sides.
You could use the likes of Knox Payments, or Synapse Pay, etc. or even Yodlee etc. for account validation and/or ACH processing, etc. but there will be a cost to it.
Ideally, it would be an API you would build without any intermediaries.
You could use the likes of Knox Payments, or Synapse Pay, etc. or even Yodlee etc. for account validation and/or ACH processing, etc. but there will be a cost to it.
Ideally, it would be an API you would build without any intermediaries.