9 Best Payment Processing APIs for Developers 2022


The economy is digitalizing rapidly, making it easier and more affordable to send and receive money. Online payment providers have been around for a while now. They offer various payment solutions to customers, empowering them through options and choices. 

Companies have chosen to make their APIs (Application Programming Interfaces) publicly available for purchase to increase their business value. Fintech developers can now leverage it for collaborations and applications or services.

One downside to payment systems is they might make it seem like your business is a clone of others in the same industry. As well, generic templates for websites and apps can feel very limiting. Payment processing APIs allow your business to customize its offerings, including more diverse payment options, allowing you to reach more consumers.

If you or your startup has developers, you can create a custom credit card processing setup with an in-house payment API. There are a couple of essential things to think about when choosing a payment provider for your project. They can offer lower fees and better security, among other things. One factor creators may want to consider increased scalability in the future.

For fintech startups, it’s essential to consider a payment processing API’s many other factors, including cost, card types supported, security, and more. The more complete your evaluation and research, the better you will be able to make a decision.

The following APIs are popular with developers because they make it easier to accept payments. This article will explain the most common and easy-to-use payment processing APIs.

What is a Payment API?

Payment APIs are becoming more and more common. They provide a way to process payments and engage in other types of commerce

An API facilitates the communication between two or more computer systems to enable interoperability. Credit card processing and other forms of commerce are just two examples of the possible objectives that an API can support.

With this framework, you can build your payment features such as eCommerce and other similar tools into your product or service. Using processors with strong, proven track records, a good payment processing API can help ensure your payments are safe and secure.

What Can a Business Do With A Payment API?

Payment APIs can typically handle transactions such as purchasing, selling, and sending payments.

A payment API allows you to integrate with a payment processor and not build your own code. Thus, saving a lot of time and effort. A good payment processing API also enables you to provide your customers with a more personalized experience.

A payment API can allow you to:

  • Set up recurring payments
  • Accept ACH payments
  • Customize for a better customer experience
  • Operate with increased security attributes
  • Accept credit card payments
  • Accept debit card payments
  • Set up bank transfers
  • Operate in cryptocurrency transactions
  • Create account transfers

The Best Payment APIs for Developers

Before deciding if a payment API is for you, it is vital to learn about the numerous companies offering the APIs.  

Here are some of our favorite APIs to choose from:

1. Sila

Sila’s payment processing API makes it easy to get approved by the US regulators and automatically helps you save time and effort. Sila’s API allows you to create a digital wallet that consumers can access from a smartphone or tablet. Sila also gives fintech startups a hand with appropriate compliance with KYC/KYB rules

Sila’s API was designed to help your business focus on what matters most: adjusting and simplifying your go-to-market and compliance strategy. You’ll reduce costs and make sure you’re spending your time elsewhere, ensuring your app is top of the line.

Sila offers SDKs in Javascript, Node.JS, Python, .Net, C SDK, and Postman API explorer applications.

2. Square

Square operates as both a payment service, which enables the transferring of funds through card-to-card transactions and in-person with cash payments, and as a third-party processor for businesses. 

As a third-party processor, Square has limitations on who it works with and can’t provide advice on account stability, which leaves users responsible for monitoring this themselves. 

You can build and test out your website using the Square API explorer tool to help find which one is best for you. Square has plenty of documentation on its developer website and custom SDKs, and a sandbox for easier development.

3. Stripe

Stripe provides several payment methods, including credit cards and direct debit. They offer a full range of services to businesses and individuals to process transactions quickly. It combines the functionality of a third-party payment processor and a gateway into one package. 

The single gateway is convenient for those unfamiliar with the concept of merchant accounts and those who don’t have the capabilities to have both available. Stripe Terminal is specifically for businesses that process point-of-sale transactions.

Stripe has excellent developer support and is one of the most reliable payment processors for developers. The online documentation of the framework is detailed and easy to access, making it convenient for users. The drawback with Stripe is that it doesn’t have a sandbox mode to test out code but does provide you with faux fake credit card numbers.

4. Dwolla

Dwolla is a company that processes payments and other services. Since the platform is a frictionless API and doesn’t require merchant accounts, it’s convenient for clients and easy for startups to accept their money. 

Dwolla also makes sending money via a bank transfer and other transactions like ACH transfers easier.

Dwolla’s sandbox and online documentation system offer guides, tools, and SDKs for any functionality startups may be trying to understand and create with their platform. 

5. Braintree

Braintree is part of the PayPal family of payment services, including sister service Venmo.

Like Stripe, Braintree offers payment services and international eCommerce gateway functionality, but Braintree doesn’t just focus on the world’s biggest companies. 

Braintree’s payment gateway is designed for those already using their merchant account and who don’t have other options. Using them as a standalone gateway is costlier than most individual gateways.

Developers can sign up for a sandbox account to get started with Braintree. The payment API reference section is well-organized and easy to navigate.

6. PayPal

Arguably one of the most recognizable, PayPal is an online payment platform that enables individuals and businesses to process and complete financial transactions. The API allows website owners to create a secure and seamless payment experience for their customers.

The PayPal API allows you to integrate a mobile app or website with almost any other business. Users can also create recurring subscription services, mass payouts, invoicing and reports, and bank payments. The API supports several countries and currencies, but some countries have high transaction costs.

PayPal has proven to be popular, giving users greater confidence in using it to make online payments. 

7. WePay

WePay is used for processing payments, collecting funds, and providing customized solutions for a company’s customers. It offers extensive integration with other digital tools and platforms that don’t have to experience burdens we can help them avoid.

Apart from credit card/ACH payments, the API reports that it helps businesses manage risk and ensure that their company adheres to regulatory compliance. It also supports other electronic payment options like Android Pay and Apple Pay.

WePay offers well-written documentation on using the API, including a list of frequently asked questions. However, WePay does not allow developers to use its service for certain activities that carry a high risk of fraud, such as commodity trading, internet auctions, and currency exchange.

8. Authorize.net

Authorize.net is a payment gateway service that makes it easy to accept electronic transactions in various ways. Developers have the option to integrate APIs and libraries from payment systems into their work, which can save a lot of time and hassle.

The interface is user-friendly and has features like dynamic pricing that can help in optimizing cash flow and making it better organized. 

The API provides the ability to create products for processing credit and debit card payments, recurring billing subscriptions, fraud protection, and a platform that can allow you to accept payments from other popular methods such as PayPal, QuickBooks, etc. You may also create a simple checkout option and customer profiles management.

There is easy-to-follow documentation and support, but the payment gateway is limited in the countries it supports.

9. Venmo

Venmo is a PayPal-owned payment service that allows users to send and receive money from supported Android and iOS mobile devices. Venmo enables consumers to make payments over the internet, mobile, or application.

With the Venmo API, your business can better manage financial transactions like splitting payments, allowing you to achieve increased penetration of your business’s social commerce platform. 

Venmo offers a seamless mobile shopping experience by using PayPal users’ confidence. It is used by developers too and has extensive documentation and guides. As of now, only US-based payments are available for processing on Venmo.

Why Sila is the Best Payment Processing API for Your Business

The most common payment options are credit cards and debit cards. Sila can integrate either of these methods and more into your app to make it easy for customers. With a few lines of code, you’ll have a payment processing API ready in no time!

Sila ensures that the interface is simple and provides low-cost entry. This way, businesses do not have to worry about the complexity of accepting payments from customers. Sila helps reduce compliance costs and increase speed to market. Our API compliance platform can help you manage all your legal and regulatory requirements easily.

Sila offers a suite of service integrations to help you develop a secure, compelling, and engaging banking experience. Users have easy access to the customers they need, and their bank accounts are seamlessly integrated with your application.