API stands for Application Programming Interface.
APIs are a set of functions (call or request) and procedures (Types of APIs) that allow for the creation of applications that access data and features of other applications, services, or operating systems.
The API is not the database or even the server; it’s the code that governs the access point(s) for the server.
Here is Paystand’s API Documentation that you can share externally.
- They are available for use by developers and other users with relatively few restrictions. Restrictions might include the necessity to register with the service providing the API.
- They are typically backed by open data. Open data is freely available for everyone to use and republish as they wish, without restrictions from copyright, patents or other mechanisms of control. An Open API may be free to use, but the publisher may limit how the API data can be used.
- They are based on an open standard.
An open API (often referred to as a public API) is a publicly available application programming interface that provides developers with programmatic access to a proprietary software application or web service.
APIs are sets of requirements that govern how one application can communicate and interact with another. APIs can also allow developers to access certain internal functions of a program, although this is not typically the case for web APIs.
In the simplest terms, an API allows one piece of software to interact with another piece of software, whether within a single computer via a mechanism provided by the operating system.
Examples of when custom API's may be needed:
- Homegrown ERP
- Homegrown portal for custom checkout experience
- Integration into e-signature software
Private API
A private API is an interface that opens parts of an organization's backend data and application functionality for use by developers working within (or contractors working for) that organization. Private APIs are only exposed to internal developers. Therefore, the API publishers have total control over what and how applications are developed. Private APIs offer substantial benefits with regards to internal collaboration. Using a private API across an organization allows for greater shared awareness of the internal data models. As the developers are working for (or contracted by) one organization, communication will be more direct and, therefore, they should be able to work more cohesively as a group. Private APIs can significantly diminish the development time needed to manipulate and build internal systems that maximise productivity and create customer-facing applications that improve market reach and add value to existing offerings.
Open API
In contrast to a private API, an open API is publicly available for all developers to access. They allow developers, outside of an organization's workforce, to access backend data that can then be used to enhance their own applications. Open APIs can significantly increase revenue without the business having to invest in hiring new developers, making them a very profitable software application. However, it is important to remember that opening back-end information to the public can create a range of security and management challenges. For example, publishing open APIs can make it harder for organisations to control the experience end users have with their information assets. Open API publishers cannot assume client apps built on their APIs will offer a good user experience.
Open APIs can be used by businesses seeking to leverage the ever-growing community of freelancing developers who have the ability to create innovative applications that add value to their core business. Open APIs are favoured in the business sphere as they simultaneously increase the production of new ideas without investing directly in development efforts. Businesses often tailor their APIs to target specific developer audiences that they feel will be most effective in creating valuable new applications.
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