Irish B2B payments platform TransferMate has unveiled an API, enabling businesses to directly integrate payment technology into their existing systems.

The supplier said that its API will lower administrative workload and save time by managing thousands of payments at once.

The API provides developer tools and webhook functionality, with key API offerings being token-based authentication request, setting up bank accounts, adding beneficiaries, status updates on payment, as well as getting an exchange rate.

TransferMate chief product officer Gary Conroy said: “By implementing the TransferMate API, our partners provide a seamless payment experience to their customers, get an incremental revenue stream themselves, and TransferMate does the heavy lifting as the regulated entity.

“TransferMate transforms traditional cross-border payments by utilising their own global network of local bank accounts and worldwide licence footprint.

“TransferMate has to date provided the service via online and white-label solutions, and now we are delighted to announce that platforms can access TransferMate’s award-winning payments solution via the TransferMate API.”

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The latest development comes shortly after TransferMate’s receipt of a payments licence in Singapore, which is the firm’s first licence in Asia.

Moreover, the firm was recently in the news for its acquisition of Swiss forex payments firm Devisenwerk.