In this article, we’ll see how to reduce payment processing errors with an API!

An application programming interface (API) is a tool that allows two applications to communicate with one another in order to exchange data or use services from one another. This means that you can use an API to access data or functionalities from other websites or apps. This information is crucial because it allows you to determine whether or not the payment made by the customer is legitimate. This will help you reduce payment processing errors and ensure that your business continues to grow without any payment problems.

Banks and other financial organizations use Banking Information APIs to give their consumers real-time account access. Customers may check their accounts, send money, and do much more without having to wait for the bank now that the information has been updated.

In the case of banking, real-time access is crucial. Customers want their accounts updated in real-time so they can constantly check their balances and transactions. However, banks can find this difficult, especially if they have a lot of data to update. With the use of an API like this one, developers will have access to details about your bank account and will be able to transfer money between accounts, internationally, and more.

We suggest the following if you’re seeking for a reliable API to minimize payment processing errors:

SWIFT – IBAN – Routing Bank Checker API

Developers now have a quick and easy way to check and retrieve data relating to SWIFT codes, IBAN codes, and Routing Bank Numbers thanks to the SWIFT-IBAN-Routing Bank Checker API. By immediately validating and confirming the accuracy of banking information using this API, you can speed up financial transactions and lower error rates.

The Bank Codes Lookup API can be used by e-commerce businesses and payment processors to verify consumer banking information during the payment process. These companies can lower the possibility of unsuccessful transactions and raise customer satisfaction by validating bank codes.

This API provides access to the “Routing Bank Checker,” “IBAN Code Checker,” and “SWIFT Code Checker” endpoints. From among them, pick the one that most nearly matches your requirements for what you’re looking for. The “Routing Bank Checker” will react as seen in the following example:

{
"status": 200,
"success": true,
"message": "Routing Bank 121000248 is valid",
"data": {
"routing_number": "121000248",
"date_of_revision": "091012",
"new_routing_number": "",
"bank": "WELLS FARGO BANK, NA",
"address": "255 2ND AVE SOUTH",
"city": "MINNEAPOLIS",
"state": "MN",
"zip": "55479",
"phone": "(800) 745-2426"
}
}

As you can see, the response proves the routing bank number is accurate, comes from Minneapolis, and includes the name of the bank.

All You Have To Do To Utilize It Is:

• Go to SWIFT – IBAN – Routing Bank Checker API and simply click on the button “START FREE TRIAL” to start using the API.
• After signing up in Zyla API Hub, you’ll be ready to start using the API!
• Employ the different API endpoints depending on what you are looking for.
• Once you meet your needed endpoint, make the API call by pressing the button “test endpoint” and see the results on your screen.

This API can be used by the travel and tourist sector to verify clients’ foreign payments. This enhances client satisfaction and guarantees that transactions are performed fast and precisely while lowering the possibility of mistakes and delays throughout the booking process.

The IBAN Codes API can be used by government organizations to validate the banking data provided by people and companies. This lessens the possibility of fraud and mistakes by ensuring that tax payments, social security benefits, and other financial activities are accurate and adhere to pertinent legislation.