10 FinTech APIs every Indian developer should bookmark

#fintech #api #payments #financial

Financial services are common requirements for any application we build as developers. Existing FinTech API services help you add those financial features in your apps easily. Finding those reliable APIs takes a huge amount of research.

So in this article, we will list most useful APIs which will help you add an array of financial features to your apps without much efforts

Stripe: Payment gateway to accept payments globally for business products/services. Accepts major credit and debit cards.
Exchange Rates: A currency conversion API
Razorpay: Payment gateway with functionalities such as subscription and invoicing. Accepts cards and netbanking in India.
Eko India: Money transfer and bill payments via nearby shopkeeper. No user bank account required. Also provides other financial services and utilities such as loans, Bank verification, PAN verification, cash collection, etc.
Kite-Connect by Zerodha: A trading platform. Based in India.
Zipline by Quantopian: An Open-Source tool for algorithmic trading. It is a platform for developing and testing quantitative trading strategies using Python.
Intuit: APIs for accessing financial data and building financial applications
Zoho Books: A cloud-based accounting APIs for developers. Based in India
Alpaca: A commission-free stock trading APIs
Bitpay: Blockchain payment APIs

Did I miss any other requirements you have related to FinTech features in your app? Comment to ask me a recommendation or discuss in our community for FinTech devs on Discord

Top comments (4)

Ben Sinclair • Dec 24 '22

Only two of these look related to India, what's the connection with the others?

Eko Developers • Dec 25 '22 • Edited

We can see that we did not clarify the purpose of this list. This is a list of APIs that Indian developers can use, it is not meant to be a list of APIs "made in India".
For example, Stripe is not an Indian company but it was launched in India in 2018. So since then, it is available to Indian devs.

Ben Sinclair • Dec 26 '22

Ok, I guess I'm getting at something slightly different. Is there an issue in India where it's difficult to use certain APIs the rest of the world has access to? I don't know much about global restrictions for things, my knowledge pretty much ends at "I can't play X on Netflix but my friend in the US can".

Eko Developers • Dec 29 '22

Issue is not specific to India only. Each country has different payment infrastructure. And you need to figure out the best APIs that work the best in that country and the ones which are authorized to operate in that particular country. If you want to invest in Indian Stock market, the API built to invest in US stocks won't help you. So you'd want to choose Kite-Connect by Zerodha for Indian stocks. If you want to invest in US stocks, you'd want to choose Stockal from US.
If you want to disburse loans, you'd use a different APIs in India than in US.
To process payments in India, Stripe had to go through the due process here(following the rules and regulations here) and that is why it was not available in India until they did so in 2018. The same will be true in reverse as well. If I make a payment system here in India, and want to distribute the same in US, I do need to go through the due process of creating an entity in US, opening bank account, following the audits, taxation, etc. as applicable in US.

In summary, there's a lot of local laws, and regulations come into play when dealing with money. So if you want to build a FinTech service using existing FinTech APIs, you do need to do your research for each geography where you want to distribute those services.

DEV Community

10 FinTech APIs every Indian developer should bookmark

Top comments (4)

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