Four business benefits of API-driven transactions
APIs allow new partners to be incorporated at a low cost, reaching niche channels more quickly and offering value to both clients and the company itself.
The ever growing use of application programming interfaces (APIs) has meant a revolution for companies, by, among other things, allowing greater scope for transactions and content.
APIs allow firms to reach niche channels more quickly and generate added value for both clients and the companies themselves.
The four business benefits of API-driven transactions are as follows:
1. Monitoring sales made via affiliate links, allocating sales and dividing up the earnings with partners.
2. Product searches on websites, not to generate sales but to attract a specific target audience.
3. Creating new sophisticated or niche product selections.
4. Extending access to inventories, prices and similar information.
Depending on the product, two kinds of APIs may be used:
- Transactions: a company's success is dependent on the volume of agreements it secures. APIs can generate powerful affiliate models to help drive business.
- Content and data: the media and content generating firms are always on the lookout for fresh ideas to help attract an audience.
APIs can help to improve the user experience by offering all the required information at the right time. Companies that use APIs in their business models have built a significant advantage over their competitors.
If you are interested in the world of APIs, find out more about BBVA's APIs here.
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