TABLE SS OF CONTENTS

Introduction

Fundamentals of Application programming Interface

Types of Application Programming Interface

Application Programming Interface Protocols

Application Programming Interface testing

What Does Application Programming Interface Documentation Entail?

The Benefit of Integrating Application Programming Interface as a Startup

Conclusion

Introduction

In today's technology landscape, utilizing transformative tools is crucial for businesses to achieve their corporate goals. One such tool is the Application Programming Interface (API), which acts as a powerful bridge between two separate applications enabling seamless communication and providing the necessary data required. In this article, we'll dive into the myriad benefits that APIs offer and how companies can leverage them to scale up their payment process through seamless transactions, resulting in a significant increase in annual revenue.

Types of Application Programming Interface

We have four types of application programming interface and they include.

1. Open API

2. Partner API

3. Internal API

4. Composite API

Public API: Open API, also known as Public or Open-source API, is a powerful tool that allows developers, colleagues, and external organizations to interact with tools, with the aid of HTTP protocols, it provides users with seamless access to the internet.

Private API: Partner APIs are not public domain and should not be treated as such. These APIs are primarily intended for internal team use to ensure smooth communication and effective collaboration.

Partner API: Partner APIs are designed to connect strategic business partners. Developers are opportune to access the API in self-service mode through the API developer's portals but still need to go through the onboarding phase and use login credentials to gain access to the API. This ensures the safety and security of the API and prevents unauthorized access.

Composite API: It combines two different APIs (Data and services) providing programmers with several endpoints in a single call. The purpose of composite API is to guarantee a seamless web interface and to address complex situations or behaviors.

Application Programming Interface Protocols

As the number of APIs began to increase, certain rules were put in place to govern their usage. API protocols are guidelines for users, and it defines how information is exchanged through APIs.

SOAP API: Also Known as Simple Object Access Protocol API, is a type of protocol that is built with XML. It allows endpoints to send and receive data through HTTP and SMTP. SOAP API ensures the efficient running of applications and software components.

REST API: This is an architectural style that defines a set of constraints for accessing web services simply and flexibly without going through a rigorous process which is achieved with the aid of HTTP. Rest API possesses a defined function such as PUT, GET, and DELETE. Restful API uses less bandwidth, making it suitable for internet usage.

Application Programming Interface Testing

API testing is an important part of the software development process to ensure that APIs are working effectively. Developers can carry out this testing either automated or manually. Several forms of API testing play an important role in software development and are effective and functional.

Postman

This type of API tool helps in building and streamlining collaborative efforts to create an efficient API. This tool helps in enhancing the API lifecycle from the design- testing- documentation- mocking - sharing and discoverability of API.

Rest assured

This tool assists developers in testing and validating APIs using Java, making it seamless for Java developers to test their APIs.

Soap Ui

This tool is an open-source testing tool that has dual functionality, which entails testing tools for both Soap and Rest API. SOAP UI assists developers in creating smooth and automated functional regression and load tests, which can be very beneficial for overall development.

Karate Labs

This type of tool combines multiple functionalities, including API testing, UI automation, and mock performance testing, all within a single framework.

Katalon

Katolon is a tool that supports all kinds of REST and SOAP requests. It provides a smooth process for scripting, debugging, test autocompletion, code inspection, and snippets.

What Does Application Programming Interface Documentation Entail?

When there is a need to expedite a payment process for users and it requires access to a specific resource, API documentation is a guide that must be adhered to. It provides detailed instructions on how to locate and integrate with API, leaving no room for ambiguity or confusion. This tool is an extremely useful resource that offers comprehensive guidelines about endpoints, parameters, methods, resources, authentication, protocols, requests, and responses. By following these guidelines, teams that use private APIs can collaborate effortlessly.

Tools Used in Documentation of API

Several tools out there make documentation easier; they are widely used by the fintech, and banking industries and they include.

• POSTMAN

• SWAGGER

• API Doc

The Benefit of Integrating Application Programming Interface as a Startup

Over the years, there has been a shift in the way businesses operate, from the traditional method of purchasing goods with cash to the current cashless policy which is known as the era of global/ digital digitalization. In the year 2000, salesforce introduced application programming interfaces (APIs) which played a critical role in facilitating this change. With APIs, businesses can connect with several multinational companies, and startups hence fostering strategic partnerships and synergy.

Fosters Innovation: With APIs, startups and businesses can easily connect through the sharing of resources, which simplifies the process of website and mobile application development without writing complex codes. According to a report by McKinsey, a global consulting firm, APIs are expected to generate $1 trillion in profit by 2025, also IBM Institute of Business Value published a report titled "Innovation in the API Economy" in 2016 which highlighted the significant role of well-designed APIs. Such APIs would provide a data infrastructure that enables rapid innovation, create new market opportunities, and foster global and regional partnerships.

Improved Operational Efficiency: APIs are an essential tool that helps to drive and automate workflows. By leveraging APIs, developers can easily access multiple data sources, enabling them to analyze and extract insights from data with ease. APIs are a critical component in increasing productivity and minimizing the risk of human error. According to Broadcom department heads observed a 74 percent spike in KPIs following the adoption of API, which has assisted them to accomplish their goals and objectives.

Facilitate customer service Experience: The development of API has proven to be a turning point for many startups, which has yielded substantial growth through the integration of API into their websites, startups have been able to create a seamless experience for their customers, through the reduction of steps required to access data and services. This has not only improved customer satisfaction/experience but also increased the chances of repeat visits.

Optimize Payment Process: According to a Stax report E-commerce industry in the USA made 768 billion dollars in 2021 and is expected to reach 1.3 trillion dollars by 2025, Payment APIs offer seamless connections between businesses and their customers. These APIs offer a wide range of benefits to businesses by helping them secure their funds from intruders, providing real-time data, and maintaining payment history.

Conclusion

In summary, the Application Programming Interface is a complex tool used in software development that functions as a link between two systems and enables multinational companies to form valuable partnerships worth billions of dollars. These APIs have numerous benefits that startups can leverage to create sustainable products and stay ahead in the game.