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Application Programming Interface (API)
An Application Programming Interface (API) is a set of rules and protocols that allows different software applications to communicate with each other. APIs define the methods and data formats that the applications can use to request and exchange information, enabling them to interact seamlessly.
APIs are crucial for integrating various systems and services, allowing businesses to enhance functionality and streamline operations. For instance, APIs can be used to connect payment gateways, fraud detection systems, and customer identity verification tools, ensuring efficient and secure data exchange.
This integration helps businesses maintain compliance, improve user experience, and reduce the risk of fraud by enabling real-time data sharing and analysis.