API Banking

byPaytm Editorial TeamLast Updated: July 31, 2025

Meaning

The full form of API is Application Programming Interface. API Banking refers to using APIs to allow third-party platforms, like fintech apps or business portals, to securely access banking services.

How It Works

Banks expose certain features—such as balance checks, fund transfers, and statement generation—through APIs. These APIs can be integrated into mobile apps, websites, or enterprise systems to automate banking tasks.

Use Cases

Businesses use API Banking to streamline payroll, reconcile payments, and automate settlements, improving efficiency and reducing manual errors.

Benefits

API Banking enables real-time banking services, faster settlements, and customized financial solutions without logging into traditional bank portals.

You May Also Like

Demat AccountLast Updated: September 10, 2025

Meaning Demat stands for Dematerialized Account. A Demat Account is used to hold shares and securities in electronic…

What is a Demand DraftLast Updated: October 14, 2024

Understanding Demand Draft Demand Draft or DD refers to a financial instrument used to make payments, which can…

Base RateLast Updated: August 19, 2025

Definition The Base Rate is the minimum interest rate set by the Reserve Bank of India (RBI) that…

Dynamic QR GenerationLast Updated: September 15, 2025

Definition Dynamic QR generation refers to the process of creating fresh, transaction-specific QR codes through merchant systems or…

*USSD UPI (99#)Last Updated: July 24, 2025

Meaning USSD UPI (*99#) is a mobile banking service that lets users access UPI services without an internet…

BNPL (Buy Now, Pay Later)Last Updated: July 31, 2025

Meaning BNPL stands for Buy Now, Pay Later. It is a short-term credit facility that allows customers to…