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.
According to a news release, Fidel API, a financial infrastructure application programming interface (API) platform, has announced its Transaction Stream API, which allows developers to connect to real-time payment card data.According to the firm, which has offices in London, Lisbon, and New York City, the new API will enable developers to “create the next generation of corporate cost management platforms and consumer financial management applications.”According to the press announcement, the Transaction Stream API is developed on top of the Visa Offers Platform, and Visa and Fidel plan to collaborate to expand the solution’s capabilities and deliver it to new markets around the world.
“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.”
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.
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.
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.”
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.