International transfer provider OFX launches developer portal with international payments API
ASX listed foreign currency exchange company OFX (formerly OzForex) today announced the launch of a developer portal, designed to provide the global developer community with turn-key access to the company’s new Payments API, with access to a 24/7 support team.
OFX continues to lead the Australian Fintech industry by launching an International Payments API on a self-serve developer platform. Skander Malcolm, CEO and Managing Director at OFX, explained why the portal demonstrates the brand’s commitment to continuous advancement in the tech, product and payments space; “As the world moves to a place where automation, scale and efficiency are a basic need, the OFX team are striving to build products which foster partnerships with our corporate clients and developers, to help shape long-term digital payment innovation.”
The developer portal offers personalised dashboards to create and manage applications with plug and play RESTful APIs, clear documentation, high industry standard SLAs and an analytics dashboard. Partners can now automate international payments (including invoices and payroll) and participate more freely in the interconnected global economy, with access to OFX’s great exchange rates, typically up to 75% more competitive than the banks’.*
Eldar Allahverdiyev, Senior Product Manager at OFX commented; “The platform ultimately allows our integrated partners the ability to scale globally, streamline software build processes and save on foreign exchange rates. We launched in beta in November last year, and our early adopters are reporting seamless integrations. Now the platform is open for any developers to register and try our Payments API Product in the sandbox environment. We have an extensive roadmap to extend our fintech platform and offer more API Products to developers.”
Developers at supply chain finance solutions company Octet have seen immediate process efficiencies; “our team were confident that the OFX Payments API was simple and easy to work with and superior to the alternatives on the market. Once the decision was made, we were fully integrated within a couple of working days,” said Octet chief operating officer Michael Rom. “We saw our processing costs drop significantly over six months.”
*Average savings based on published rates of ANZ, Westpac, NAB and CBA on a single transfer of AUD$10,000 to USD between 1.9.17 and 5.10.17 excluding weekends. Transaction costs excluded. Quoted savings are not indicative of future savings.
