Finshark vs Fire Payments API

Finshark provides open banking payments, payouts, and financial data services for businesses through web and API offerings. Customers can pay or deposit directly from bank accounts without cards, downloads, or signups. Businesses can send single or batch bank transfers, with payee identity and account ownership checked in real time. Payments are usually processed instantly, though some can take up to two days to reach a merchant; payouts can take up to two banking days. Premium insights use real-time account data for KYC checks and can include accounts, balances, transactions, income, debts, categorized transactions, spending behavior, risk propensity, and identity or ownership details. Connection methods include online banking, bank APIs, BankID, and Strong Customer Authentication (SCA); Finshark says customer authentications go through SCA. The company lists 11 authorized markets, more than 3,000 connected banks, and 99% coverage of bank accounts in Scandinavia. Finshark AB says it is a licensed Payment Institution supervised by Sweden’s Financial Supervisory Authority and authorized to provide payment services across the EU/EEA. Pricing is on request.

Fire Payments API connects Fire’s digital payment services to applications and back-office systems, letting fintechs and corporate clients automate payment processes. It can initiate batches of internal transfers and local or cross-border payouts, issue cards, and manage card blocks and limits. Businesses can create bank-transfer payment requests with added information for reconciliation, retrieve transaction, payee, user and balance data, and move funds between Fire accounts in real time. Developers can use Fire’s OpenAPI specification to build backend integrations in their preferred programming language. Customers need to contact sales to open a Fire account before configuring an API application and its permissions. Fire says payment batches are authorised and authenticated through the Fire for Business mobile app, within a framework designed to meet PSD2 technical standards. Fire-EU is regulated by the Central Bank of Ireland, while Fire-UK is authorised by the FCA. Customer funds are held separately from operational funds; this is not a bank deposit guarantee. Pricing is paid, from €10/mo, with corporate pricing available on request.