Financial infrastructure application programming interface (API) platform Fidel API has launched its Transaction Stream API, which lets developers connect to real-time payment card data, according to a press release.
The company, with operations in London, Lisbon and New York City, said the new API will let developers “build the next generation of corporate expense management platforms and consumer financial management applications,” the release stated.
The Transaction Stream API is built on top of the Visa Offers Platform, with Visa and Fidel planning to work together to expand the solution capabilities and introduce it to new markets around the world, according to the release.
The API lets developers that build commercial solutions give HR and finance teams real-time spend visibility, shrinking the amount of time employees need to spend filing expense reports, the release stated.
It also lets developers that create consumer expense management applications make real-time decisions on card purchases programmatically, triggering personalized alerts and insights for cardholders from the moment of transaction, according to the release.
“We are delighted to announce this expanded collaboration with Visa, which is a testament to the work we have done together over the last five years,” said Fidel API CEO Dev Subrata in the release. “The launch of the Transaction Stream API is the first of many joint efforts that will deliver new value across the ecosystem to our clients, issuers and individual cardholders. We look forward to leveraging Visa’s expertise and extensive global network as we continue to scale our products around the world.”
Visa Senior Vice President and Head of North America Product Brian Cole said in the release: “Fidel API has been a long-term, trusted partner of Visa. Their tools are helping drive the future of FinTech innovation and transforming existing payments processes, like expense management. We are excited to help expand their product offerings.”
Fidel offers a suite of APIs that can link cardholders to rewards programs and other apps. The core of its business is a partnership with the three major credit card companies — Visa, Mastercard and American Express — which lets it access their network data in real time.
Read more: Fidel Targets US Market in Expansion of Card-Linking Technology
Founded in the U.K., the company opened its New York operations last year, a move driven by the use of “card payment infrastructure to personalize customer experiences, enhance financial services and streamline business operations,” Fidel said at the time.