MasterCard said today that later this year it will release Open Application Programming Interfaces (Open APIs) for third-party and independent software developers around the globe.
MasterCard says by opening previously proprietary payments and data services, developers will be able to create new ecommerce and mobile payment applications.
The new Open API program is the first initiative from the newly created MasterCard Labs. A new developer portal will also be launched to allow developers to sign up for access to all of the Open APIs that MasterCard makes available will also be launched.
Through the portal, MasterCard will provide developers with technical documentation, SDKs, sample source code reference guides, and “virtual sandboxes” for testing new applications. A developer forum designed to spur collaboration between MasterCard engineers and developers will also be an integral component of the new portal.
“We are excited about tapping into the ingenuity of software developers around the globe to help create the next generation of game-changing payment applications,” said Josh Peirez, Chief Innovation Officer, MasterCard Worldwide.
“We feel this will unleash innovation within our industry especially in the burgeoning areas of e-commerce and mobile payments.”