BitPay has introduced the newest version of its BitPay API, a representational state transfer (RESTful) service that will allow the customers of all API-using developers the ability to initiate refunds directly from those applications.
For BitPay, however, the emphasis of the release was on the convenience the update will provide for the customers of API users, who will now be able to interact with merchants in a manner more familiar to the users of other payment methods.
BitPay's Eric Martindale wrote in the official announcement:
Outside of this update, Martindale said that BitPay's primary goal was to better ensure the security of transactions on its platform, and to increase the number of resources available in its API without adding complexity.
For merchants, the company also updated its Billing API so companies that accept bitcoin can automate the submission of bills, allowing them to request future payments.
Move toward tokenization
Yet, another emphasis point for the company was that this latest version of its API cryptographically secures interactions with BitPay through tokenization.
Martindale indicated that all requests made to its API will now need to be signed with BitAuth keypairs. These signatures, he explained, are then matched against other parameters to verify that the security of the payment.
Expanding on the possibilities of this latest addition, Martindale wrote:
Notably, the movement by BitPay toward tokenization follows Apple's use of similar security methods for Apple Pay, its new payment product introduced last week.
Overall, BitPay framed the release as one that also opens up the abilities of developers to interface with its API in new and more creative ways.
BitPay ended this post by further stressing this call to action, adding:
Disclaimer: CoinDesk founder Shakil Khan is an investor in BitPay.
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