Fidel API has joined Visa Fintech Partner Connect, which connects clients to a “curated and vetted” set of fintech companies, a press release said.
With the endorsement from Visa, the company will now become more visible as a provider of real-time transactions APIs.
Fidel API’s platform provides authentication, data and payments infrastructure so developers can capture consent permissions and securely connect payment cards to a service or application. Developers can then build “event-driven experiences” at the point of sale, adding more value for using and accepting payment cards.
Fidel API CEO Dev Subrata said the partnership with Visa went back to the foundation of the company, with joining Visa Fintech Partner Connect being a “deepening” of the partnership.
“The ability to read transactions in real-time and trigger event-based experiences the moment a specific transaction occurs, based on pre-programmed logic, is powerful,” he said. “It gives businesses the means to fix broken processes and create magical experiences for consumers – anything from real-time expense approvals and instant claim reimbursements to automated rewards.”
The purpose of Visa Fintech Partner Connect is to get Visa clients more access to digital-first, next-generation payments solutions, with partners being Visa Ready certified to signal the endorsement of the payments giant.
Salman Syed, Fidel API’s new chief operating officer, said there are a number of ways financial data can be used, including using card-level data to enable corporate and consumer expense management solutions in real time.
Read more: How API Platforms Democratize Data, Enable Real-Time Experiences
He said APIs have the ability to bring the transaction data for the payment card a person already has into another provider’s expense management software. He said Fidel API’s tools will allow for numerous services and use cases, such as customer attribution, loyalty and rewards, and personal financial management.
With that, Syed said it was important for developers to have the right tools and the ability to access data. He touted Fidel API’s ability to add connectivity to streamline connections for various payment schemes as a positive for the innovative uses of the technology.
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