Source: Stet
STET, a European leader in payments processing will issue in July a RESTFUL API (Application Programming Interface) standard which will allow Third Party Providers (TPPs) to access payment accounts.
Created accordingly to the new Payment Services Directive (PSD2), this API aims to provide a secure and easy-to-use set of services to be implemented by European ASPSPs (Account Servicing Payment Service Providers) on the server side for: - AISP (Account Information Service Providers) - PIISP (Payment Issuer Instrument Service Providers) - PISP (Payment Initiation Service Providers).
It also provides authentication, authorization, proof management and fraud detection oriented features.
This API has been built with the latest technology standards using REST, OAuth2, JSON and HTTP-signature. It relies on ISO20022 elements for structuring the data to be exchanged between TPPs and ASPSPs.
STET will make this set of specifications available to all actors next month. It will include a technical “Open API” file and a detailed description of the functionalities, which will also be explained through practical examples.