Published: February 19, 2020
Innovations yet to be imagined in payments made possible with the introduction of new portal.
OTTAWA, February 19, 2020 - Payments Canada introduces its first application programming interfaces (APIs) with the official launch of its API developer portal. The introduction of APIs supports our efforts to modernize our products and services, in tandem with industry developments and evolving market needs. Through API technology, we are making it faster and easier to access the data and functionality of some of our services, further enabling and connecting the payments ecosystem.
Building on successful pilot and beta projects, the developer portal provides a new delivery mechanism for existing Financial Institutions Files and Corporate Creditor Identification Number services. Lynx and Real-time-Rail sandbox trial APIs are scheduled for release later on this year.
API technology is synonymous with innovation; APIs will enable the ecosystem to experiment, ideate and create new payment possibilities yet to be imagined - the concept at the heart of Payments Canada’s first hackathon which will take place at this year's Payments Canada SUMMIT. Over 26 hours, hackathon participants will have the opportunity to leverage APIs and other open-source technologies to build applications to integrate with a futuristic payments rail.
[UPDATE] - The 2020 SUMMIT is cancelled as well as the planned Hackathon event. At this time, Payments Canada is exploring alternative ways to best connect and engage with our community throughout the year so please watch for more information.
About Payments Canada
Payments Canada ensures that financial transactions in Canada are carried out safely and securely each day. The organization underpins the Canadian financial system and economy by owning and operating Canada’s payment clearing and settlement infrastructure, including associated systems, bylaws, rules and standards. The value of payments cleared and settled by Payments Canada in 2019 was over $55 trillion or $218 billion each business day. These encompass a wide range of payments made by Canadians and businesses involving inter-bank transactions, including those made with debit cards, pre-authorized debits, direct deposits, bill payments, wire payments and cheques. Payments Canada is a proud supporter of the Catalyst Accord and the 30% Club.
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