Draft:List of API Service Providers in India
Submission declined on 24 May 2025 by ToadetteEdit (talk).
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| Submission declined on 24 May 2025 by Spiderone (talk). This submission does not appear to be written in the formal tone expected of an encyclopedia article. Entries should be written from a neutral point of view, and should refer to a range of independent, reliable, published sources. Please rewrite your submission in a more encyclopedic format. Please make sure to avoid peacock terms that promote the subject. Declined by Spiderone 4 days ago. | |
Comment: I think this may not be a notable/appropriate topic, also noting the heavy use of primary sources. ToadetteEdit (7M articles) 16:57, 24 May 2025 (UTC)
- Comment: Needs a thorough review of the language used. Even the first sentence "India's burgeoning digital economy has been significantly propelled by the widespread adoption and innovation in Application Programming Interfaces (APIs)" is not neutral. See WP:NPOV Spiderone(Talk to Spider) 07:32, 24 May 2025 (UTC)
API Service Providers in India (Financial Technology and Allied Services)'
The digital economy in India has seen growth in Application Programming Interface (API) usage.[1] APIs facilitate communication and data exchange between different software applications, supporting the integration of various digital functions such as financial services, identity verification, and communication tools into diverse platforms.[2][3]
Government initiatives and regulatory frameworks from the Reserve Bank of India (RBI) have contributed to the development of public digital infrastructure, including the UPI and Aadhaar. This infrastructure supports various financial technology (fintech) companies in offering API solutions.
Categories of API Service Providers
[edit]API service providers in India offer services across several areas, primarily in financial technology and related digital services. The following sections list companies active in these domains.
Payment APIs
[edit]These APIs facilitate online and offline payment processing.
AeronPay: Offers FinTech APIs for services including payouts, bill payments (BBPS, FASTag), and recharges.[4][5] Cashfree Payments: A company providing payment and API banking solutions, with APIs for payment gateways and payouts.[6] PayU India: A payment gateway provider with APIs for online payment acceptance.[7] Razorpay: A fintech company in India, offering payment solutions via APIs, including payment gateways and payouts.[8] Eko India Financial Services: Provides Domestic Money Transfer (DMT) and AEPS APIs, often supporting financial services in agent-assisted models.[9]
API Banking and Open Banking Solutions
[edit]These providers enable banks and fintech entities to expose banking functionalities through APIs, supporting open banking frameworks.
Federal Bank: Offers API banking services for various banking functionalities.[10] FidyPay: Provides API Banking solutions for services such as bank statement analysis and bulk payments, stating collaborations with banks like Yes Bank, RBL Bank, Axis Bank, and ICICI Bank.[11] Fino Payments Bank: Offers API banking platforms that facilitate services including Domestic Money Transfer, AEPS, MicroATM, and Savings Account Acquiring.[12] RBL Bank: Provides a developer portal with APIs for banking products, including eKYC and PAN verification.[13]
Identity Verification and KYC APIs
[edit]These APIs are used for digital onboarding processes, fraud prevention, and regulatory compliance through identity and document verification.
DigiLocker API: A government-provided API for secure access and verification of digital documents (e.g., Aadhaar, PAN, driving licenses) from the DigiLocker platform.[14] IDfy: Offers APIs for identity verification, utilizing machine learning for Aadhaar and other document verification.[15][16] Jumio: A global provider with a presence in India, offering an AI-powered platform for remote identity verification to address fraud.[17] Perfios: A financial data analytics and aggregation platform providing APIs for automated document analysis (e.g., bank statements, ITRs), KYB/KYC, and fraud detection.[18] Signzy: Offers digital onboarding and fraud prevention solutions, with APIs for identity verification and digital contracting.[19] Surepass: Provides APIs and OCR technology for customer onboarding and identity verification, including Aadhaar and PAN verification.[15]
Lending and Wealth Management APIs
[edit]These APIs support digital lending processes, credit assessments, and investment solutions.
Many API banking providers also offer lending-related functionalities through their APIs. Zerodha Kite Connect and Upstox: Through their developer APIs, these platforms provide access for algorithmic trading and market data.[20][21]
Challenges and Market Growth
[edit]The API economy in India is experiencing growth. However, this expansion also presents challenges, particularly concerning API security. Reports indicate that the rapid deployment of APIs has, in some instances, developed faster than the implementation of security measures.[1] The market for API management and related services in India is projected to continue its expansion, driven by digital transformation initiatives across enterprises.
References
[edit]- ^ a b "India Leaps Ahead in API Economy, Yet Lags in API Security: Report". CISO Mag. 2024-08-12. Retrieved 2025-05-24.
- ^ "Top 10 FinTech Companies In India [2024]". Perfios.ai Blog. Perfios Software Solutions Private Ltd. 2024-03-01. Retrieved 2025-05-24.
- ^ "Top 10 Fintech companies in India". LeadSquared Blog. LeadSquared. 2024-01-20. Retrieved 2025-05-24.
- ^ "AeronPay Unveils Groundbreaking Unified Open API Platform". India Press Release. 2024-07-29. Retrieved 2025-05-24.
- ^ "AeronPay Developer Documentation". AeronPay Developers. AeronPay. Retrieved 2025-05-24.
- ^ "API Banking for Fast-Growing Businesses in India". Cashfree Payments. Retrieved 2025-05-24.
- ^ "Payment Gateway API for Online Payment Collection". PayU India. Retrieved 2025-05-24.
- ^ "Razorpay API Documentation". Razorpay. Retrieved 2025-05-24.
- ^ "API Banking - Fino Payments Bank". Fino Payments Bank. Retrieved 2025-05-24.
- ^ "API Banking - Federal Bank". Federal Bank. Retrieved 2025-05-24.
- ^ "API Banking India - Banking API Providers Company". FidyPay. Retrieved 2025-05-24.
- ^ "API Banking - Fino Payments Bank". Fino Payments Bank. Retrieved 2025-05-24.
- ^ "API Banking Services". RBL Bank. Retrieved 2025-05-24.
- ^ "DigiLocker Developer". DigiLocker. Government of India. Retrieved 2025-05-24.
- ^ a b "Best KYC API Provider in 2025". Surepass Blog. Surepass Technologies Private Limited. 2025-02-28. Retrieved 2025-05-24.
- ^ "IDfy Official Website". IDfy. Retrieved 2025-05-24.
- ^ "Jumio Official Website". Jumio. Retrieved 2025-05-24.
- ^ "How to Choose the Best Fintech APIs for Your Business?". Perfios.ai Blog. Perfios Software Solutions Private Ltd. 2024. Retrieved 2025-05-24.
- ^ "Signzy Official Website". Signzy. Retrieved 2025-05-24.
- ^ "Kite Connect API Documentation". Zerodha Kite. Zerodha. Retrieved 2025-05-24.
- ^ "Upstox Developer APIs". Upstox. Retrieved 2025-05-24.
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