Developers invited to register for access to the application development environment
This week Ixaris Technologies will for the first time publically showcase its Open Payments Cloud (OPC), when it launches the beta version of the cloud-based technology framework at FinDEVr, an event which forms part of London Tech Week.
The OPC is the primary outcome of the Open Payments Ecosystem (OPE) project, which was conceived to drive innovation in commercial payments by making access to banking and payments infrastructure easy for developers and safe for financial institutions. The project – financed by the EU Horizon2020 programme – is an initiative led by Ixaris, a commercial payment innovator, in association with Visa, Locke Lord, Rainmaking Innovation, IDT Finance and the University of Malta.
The Open Payments Cloud will enable an explosion in the development of payment applications addressing the diversity of customer needs. The OPC is designed to industrialize security and compliance management and bring under a single publicly-accessible platform a diverse set of third-party payments APIs. Such APIs are increasingly emerging as a result of industry initiatives to open up payments including:
- The second Payment Services Directive (PSD2)
- The UK Competition and Markets Authority’s Open Banking initiatives
- The full range of developer APIs and sandboxes released by financial entities, e.g. banks, the card schemes Visa and MasterCard and payments technology providers.
“The Open Payments Cloud is a payment-industry compliant, cloud-based platform which has been specifically created to provide a truly open, free and secure environment that makes it easy to develop, deploy and run payment applications,” explains Alex Mifsud, CEO of Ixaris, adding that it provides a practical means for all parties to collaborate in line with the new regulatory measures coming into force next year.
In April this year, developers had a first opportunity to trial the technology framework at a hackathon presented by Ixaris in collaboration with Rainmaking Innovation, followed by the OPC Live! Challenge – a competition open to developers worldwide.
“We have seen some exciting applications at the hackathon and look forward to announcing the winners of the global competition on 27th June,” says Dr Mifsud. ‘OPC provides a practical environment for anyone to have a go at coming up with killer applications and solutions.”
Developers can register for the beta programme here