SIBS, a leader in payments processing and financial technological services in Europe, has already available on its SIBS API Market platform the MULTIBANCO services API, such as Payment Services, the online payment method most used by the Portuguese.
The new Payment Service Providers can now develop offers based on these value-added services. Payment services, which had until now the more complex integration models, are now accessible via API so the various players in the market can create new applications that will improve Portuguese’s daily lives, individuals and companies. Is the case of Payment Services Initiation, State Payments and Mobile Top-up.
The SIBS platform is an Open API Platform which, in addition to the regulatory APIs, that are free and open to properly constituted and certified TPP entities, will grow and provide other API, both from SIBS itself or from other entities. The API publication on the platform is in line with industry best practices and European standards for these platforms.
SIBS API Market’s API - from 24 leading financial entities that represent over 95% of bank accounts - were already tested by over 850 developers and users in the sandbox environment. There are already 18 national and international TPP using the platform in production, and more than 5 new services based on the platform's API have already been launched.
SIBS API Market is recognized as a pioneer platform in the new national and international context for Open API access and distribution, creating conditions for the development of a vibrant ecosystem of new financial services and information access.