Wire transfer API


Every industry has moved towards more automation in order to cut costs and increase quality. The financial sector, however, still relies on a lot of outdated communication technology, sometimes even paper-based processes, that incur long delays and high costs. In a bid to revitalize banking, lean companies such as B2B Pay are trying to apply what worked so well for the internet to money transfers.

Problem and

Money transfer most often have to be done manually. Even for the banks that do allow for bank transfers to be ordered online, someone still has to sit at a computer and go through the process. On the bank side of things, money transfers must be implemented through procedures that wildly vary from one bank to another. International bank transfers require banks to have multilateral arrangement with each other. If a direct path cannot be established, an intermediary must be found. The famous SWIFT protocol is only a secure communication channel. Some of the many steps, such as the debiting and crediting of accounts often require human intervention, which can only happen during business. Actual movement of money is routinely delayed by each participant to the end of the business day in order to aggregate transfers and reduce liquidity. Foreign exchange only adds to the delay and costs.


Banks could share their protocols with other financial actors, and provide an automated electronic system for orders to be placed in their systems by external actors: A Wire Transfer API. Once all the actors in the chain have set this up, a wire transfer can be fully automated and nearly instant.

Lower cost

Some 21st-century-minded banks have paved the way of wire transfer API by unilaterally implementing them. Within SEPA, the implemetation of API is greatly simplified. However, non-SEPA actors have also been able to succesfully implement a transfer API. Note that most existing solutions (EU: FIDOR, USA: DWOLLA) only allow for single-currency or even intranational transfers only. B2B Pay connects theses APIs in innovative way to allow for the rapid, automated transfer of money between currencies at never-seen-before rates. You could be saving up to 80% in processing fees by using our system.

Sign Up

Let's Make
B2B Payments

Let's make your transfer.
Let’s do it well.

Open Banking API

An open standard in transaction processing would go a long way in streamlining international transfers. Unfortunately, there isn't one, and it seems that it'll stay that way for the foreseeable future. Instead, each bank and financial entity develops its own API. Some of those API might be restricted, some might be open access. But open API doesn't mean "standard". B2B Pay integrates with the relevant APIs individually in order to provide a seemingly standard experience to our customers.

Join the 10 thousand plus businesses already with B2B Pay