Payment technology company Pay.On has released an open platform for its payment infrastructure that will become available to the companys clients.
Pay.Ons Open Payment Platform makes the Munich, Germany-based companys tools for reporting, administration and an open merchant dashboard accessible through a one unified application programming interface (API). The API also gives clients access to more than 300 alternative payment methods and local and international acquirers, the company said in a Feb. 16 announcement.
APIs are becoming a popular way for technology companies to lure merchants by offering technology tools to build payment pages for e-commerce sites.
The payments market is consolidating, and with increased competition, the need to innovate and to save costs at the same time is becoming an absolute necessity, said Markus Rinderer, CEO and Founder of Pay.On. Open Payment Platform delivers to our partners the technology they need to stay ahead of the curve.
The company said the new open infrastructure will allow clients to save through minimalization of technical complexity and automated integration processes. Fast merchant onboarding will also help trigger growth.
Pay.On, which operates its North American unit through New York, N.Y., allows its customers to outsource their payment transaction processing and to integrate their gateway-to-gateway solutions. The company also provides fraud and chargeback prevention.