MasterCard Worldwide is making available its proprietary technology and offering it up as open application programming interfaces to entice software developers to create new innovations within the payments industry.
The company, which announced its decision on Wednesday, stated in a press release that by opening up its payments and data services, it hopes to see developers integrate the necessary application programming interfaces (API) codes into their e-commerce and mobile payments projects.
The APIs will be made available through a new developer portal and both will be launched later in the year, according to the company. Additionally, MasterCard will furnish developers with technical documentation, software development kits (SDKs), sample source codes, reference guides and virtual sandboxes to test out their applications.
For more on this story, see MasterCard opens up payments API, courts developers on ZDNet Asia.