Machnet’s Cross-Border API Makes Payments Faster & Cheaper

4 min
July 12, 2022
Machnet Technology Inc.
Make faster and cheaper cross-border payment with Machnet API

It’s 2022, and the world is getting increasingly digitized every minute. People are learning to maximize technology and are learning to synergize with it too, and API (Application Programming Interface)is at its core.

Think of it this way- the internet is your shopping mall, and the API is your personal assistant that takes charge of understanding what you're looking for and gets it to you. Say you're looking for shoes, flights, concert tickets, wish to check your balance or even make international payments. API notes this; it asks vendors what they have and delivers those answers back to you. 

When you’ve seen all your options, you can tell your assistant, aka API, which ones you’d like to purchase, where you’d like them to be delivered, and how you would prefer to settle that payment. That way, there is no need for you to find a connection to all these different vendors; all you have to do is send a command to do all those digital errands for you so you can go about your day.

Convenience and efficiency – everyday people scour the internet for hacks and solutions to make life easier. And every time someone searches for a “how-to” hack on the internet, the answer almost always involves API. 

How-to automate search query
How-to-automate Search

Want to send a message to your friend or partner at 5:00 PM every day? API makes it happen.

Want to renew your Netflix subscription monthly? API’s got it!

But that’s just the beginning, imagine what this could do for more important matters? Matters that involve your hard-earned money, cross-border payment, international laws, etc. – are life-changing. 

Cross-border Remittance

If you’ve ever had to send money through a remittance center before then you’d know how stressful it gets for both the sender and the receiver. Aside from the long line and the paperwork, the exchange rate is usually lower and the service charge is roughly over 5% - that’s a huge cut! 

But using Machnet’s API, you can build a remittance and cross-border payment application to send money to your loved ones from across the world cheap, convenient, and without all that hassle.

Cross-border Payments

Your dreams take time, and they take a village to build. But what if the people you trust to build your dream happen to live in another country? With various central banking regulations, KYC, AML laws, and bureaucracies, it’s almost discouraging.

Even with the current digital solutions we know, sending money to another country takes a toll on the receiver and the sender. From the service charge to the turnaround time, which usually takes 3 to 5 banking days to reflect the receiver’s local bank.

But with Machnet’s single API, you can make cross-border payments by being part of the Machnet ecosystem. What that means for you as a business owner is that you can build a diverse team that is digitally connected without worrying about international payroll, vendor payment, utility payment, etc. Just build an application, let your user sign up, set up an account, and make your payments seamlessly.

Cross-border Purchases

Yes, API empowers us to shop online, but purchases don’t stop with local vendors. API also helps you purchase things from across the globe. If you’re fond of Peruvian art and would like to purchase straight from the artist, you don’t have to fly to Peru, you can simply do an online search, and if that artist has listed their pieces on the internet you can buy it, do a cross-border payment, and have your purchase shipped almost immediately.

This also means if you are a business owner, you’re not just limited to the people in your community. You can start selling to people in a completely different state, country, or even continent – and you don’t have to be a tech giant to have that opportunity! You can simply rely on Machnet’s single API and start expanding your business’ market reach internationally.

Cross-border Invest

Most people have financial advisors to do the trading for them, but if you’re a seasoned investor or an investor with a higher risk appetite which means you want to do your trading, you can do so with the help of a system that is powered by an API. 

API looks out for stock for you based on your input parameters, it coordinates their prices for you, and even sends you valuable information you’ll need to make strategic investment decisions.

And you can even automate investments! API coordinates with the world clock, your bank, the program of the stock you’re buying, and the app you’re using to make your investments. That means while everyone’s staying up to make manual trades, you can sleep soundly and trust your investments will be made anyway.

We live in an age where technology is readily available for almost anyone, democratizing what it means to be empowered. Enabling people from different countries and walks of life to make smarter decisions and have more time for things that matter to them. And as for your hard-earned money, Machnet and its single API to move money is always there to keep your financial data safe, move money to the people you love, and help you utilize it to make your big dreams come true.

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