In this article, we talk about APIs that can help you to ensure payment accuracy. You can use these tools to make sure that the payments your business receives are accurate and not fraudulent.
One way to combat this is to use an API to verify payments, IBANs, and banking details. If you want to know which the best APIs to ensure accuracy are, keep reading.
Why Is Payment Accuracy Important?
The time it takes for a customer’s payment to reach the merchant is a significant factor in the customer experience. A lengthy and faulty payment processing time may lead to customers abandoning their carts or transactions, while a short processing time will make customers more likely to complete their orders.
It is crucial for merchants to process payments as quickly and efficiently as possible in order to increase sales and improve their business.
However, it can be challenging to ensure that every transaction is processed accurately and promptly. Merchants have a variety of options for accepting payments online, but in order to do so you need to ensure that the transaction is processed correctly.
Why Should You Use an API?
An API, or application programming interface, is a set of functions and procedures that allow software programs to communicate with each other. APIs are used in many different applications and industries, and they are often used in conjunction with other software or systems in order to provide specific functionality or data.
In this case, you may want to use an API that can help you ensure payment accuracy in online transactions efficiently and accurately. There are many different types of APIs available for this task. However, some are better suited for this task than others.
Here we will introduce you to the best options.
1- Paysafe
The Bank Account Validation API from Paysafe allows merchants to verify the ownership of their customers’ bank accounts by having the customer provide banking credentials online. It supports different kinds of request types: verifications, customer redirections, and verification lookups.
2- Plaid
Among other features, this API can instantly authenticate accounts by retrieving account and routing numbers when users connect their checking or savings accounts using bank credentials. It can also connect accounts from any bank in the United States. This API works with any ACH processor, including Dwolla and Checkout
3- Singzy
The Bank Account Verification API from Singzy will help you verify customers’ Bank Accounts to determine credibility. It can also determine the legitimacy of the customer while preventing fraudulent activities. It provides instant, reliable and real-time verification.
4- IBAN Validator API from Zyla Labs
The IBAN Validator API from Zyla Labs can quickly verify whether or not an International Bank Account Number (IBAN) is valid. This means that you can quickly and easily check the validity of an IBAN without having to wait for a response from your bank or other entities. The IBAN Validator API is a great way to ensure that your transactions are processed correctly and without error.
So if you’re looking for a way to validate your IBANs, be sure to use the best option in the market: IBAN Validator API.
To make use of it, you must first:
1- Go to IBAN Validator API and simply click on the button “Subscribe for free” to start using the API.
2- After signing up in Zyla API Hub, you’ll be given your personal API key. Using this one-of-a-kind combination of numbers and letters, you’ll be able to use, connect, and manage APIs!
3- Employ the different API endpoints depending on what you are looking for.
4- Once you meet your needed endpoint, make the API call by pressing the button “run” and see the results on your screen.
