MasterCard Worldwide announced it will release Open Application Programming Interfaces (Open APIs) for third-party and independent software developers later this year.
The Open API program is the first initiative of MasterCard Labs, which was established earlier this year.
A new developer portal will be launched in concordance with the new Open API program, giving developers access to the APIs MasterCard makes available. The portal will provide developers with technical documentation, software development kits, sample source code, reference guides and "virtual sandboxes" for testing applications, MasterCard says.
“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.”