Payments innovator Marqeta introduced the world’s first fully documented, open issuer processing Payments API via developer.marqeta.com (DMC), according to a Marqeta release. The API is entirely new with no legacy infrastructure, and is available online and fully documented to allow for testing and integration of solutions for current payments programs.
According to the release, Marqeta is a payments platform with full feature-rich functionality, making it “quick and easy” to set up new physical and mobile payments cards and configure multiple funding types. In addition, the platform can define how and where cards can be used in real time. Marqeta can power a host of specialty applications, from processing and program management, to multi-merchant commerce, to dynamic spend controls for both business-to-business and consumer use cases.
Through DMC, developers can now access the full functionality of the Marqeta payments platform, including interactive documentation. This puts experimentation, A/B testing and rapid cycling of product development in control of the developer.
"The market is flooded with enterprises of all sizes across various verticals that seek a much more flexible option than the large legacy payment platforms offer. In each case we see that they are looking for a platform that can stay ahead of, not just keep pace, with the customer demand for innovation,” said David Matter, VP Product at Marqeta, in the release.
DMC can also be a useful resource in understanding the terminology and features used on the issuer processor side of the ecosystem, says Marqeta. Users will likely also appreciate the detailed transaction flow that shows a high-level view of how a transaction touches the customer, Marqeta and the partner.
"This is just the beginning for Marqeta’s Payments Platform, we don’t plan to stop innovating here,” added Tony Ford, VP Technology at Marqeta, in the release. “Expect our Payments API and DMC to rapidly evolve as we introduce new features and receive feedback from our partners."