Wednesday, September 23rd, 2020
A newly-fangled API or application programming interface is looking to disrupt the payment environment in a big way.
The solution dabbed the Payment Request API, seeks to replace website checkout forms, and boost the online shopping and selling experience across various devices.
Web-based businesses that implement the approach soon could gain an edge over foot-draggers.
Launched in 2016, by Web Payments Working Group, a branch of the World Wide Web Consortium, the API streamlines payment collection by delegating transaction portions to a Native Operating System or your default Internet Browser.
Many web-only platforms have incorporated the API, and some eCommerce merchants have implemented it as part of a Progressive Web App.
Today, more and more browsers support the application program interface, increasing its adoption globally.
By July 2020, the Payment Request API was already active in Safari, Chrome, Safari, Microsoft Edge, Brave Samsung Internet, and Opera.
As of this posting, Mozilla is still working on integrating the application to Firefox.
Streamlining the Flow of Payments
This relatively new API is a game-changer as it enables a form-free or almost-formless eCommerce checkouts—meaning customers won’t need to type in much data.
For instance, it supports a card transaction flow that enables buyers to access the payment card data saved in their internet browser and checkout in a few steps.
In some instances, the customer can make payments by merely typing the saved card security code instead of keying in their name, address, card number, etc.
This approach is particularly useful for buyers who pay via mobile devices but is only active on browsers than have integrated the API no matter the device.
A case in point of the transaction flow in Payment Request API may be:
- Click on a checkout button,
- Choose a saved payment card from the appearing list
- Key in the protection code of the card
- Click to finish the payment
Here’s How the API-Powered Payments Work
- The online business site sends a transaction request.
- The web browser handles checkout and reaches out to the payment processor.
- The Payment Request API can also link to native payment apps Like Google Pay, Apple Pay, etc. A supplementary application dabbed the Payment Handler API helps to flawlessly navigate the shopper from the web-shop to the payment application and back in such transactions.
Put simply, the Payment Request API is decomplicating the checkout process by eliminating the need to key in transaction data, thus increasing website conversion.
Payments are changing rapidly, and businesses must be on the look for new ways to collect customer proceeds.
The Payment Request API is one strategy to consider when looking to increase the need for speed in eCommerce transactions.