API Technical Overview
Monex’ global payments service is available in two configurations, via our robust Open API or White Label online payments platform.
API
The Open API allows clients & partners to fully automate both International and Domestic Payment processes within your business processes and technology. Our Wizard API inspired API solution streamlines your coding by encapsulating many third-party connections and business logic into easy-to-use Wizard steps, while our RESTful API provides the ultimate flexibility while building custom FX functionality into your systems.
The Monex API enables access to the full Monex product range including:
♦ Quotes ♦ Spot Transactions ♦ Transaction Funding ♦ Add/Edit Beneficiaries ♦ Fixed & Window Forwards ♦ Payment Reports ♦ Payment Delivery ♦ End-to-end Payment Tracking ♦ Take Profit Orders ♦ Notification Managments ♦ FX Holding Account Management
Why API?
- Ease of use
- Top tier support
- Proven experience streamlining payment processes
- Scalability
- New revenue sources
- Enhanced client retention
- Competitive advantage
Wizard API is a REST-inspired API designed to make API client developers write a lot less client-side code. It does so by a heavy use of finite state machines (called Wizards) that encapsulate a lot of business logic therefore eliminating a need for API clients to deal with intensive financial process details. It uses two HTTP verbs GET and POST for all its methods. Wizard API methods have their own custom naming and custom error processing standards which developers need to learn before utilizing them. It uses simple Bearer Authentication
RESTful API is a fully compliant RESTful API based on JSON: API specification. It utilizes oAuth 2.0 authentication mechanism, strictly follows all RESTful standards, such as use of HTTP Error status codes to communicate all related errors, and uses a wider set of HTTP verbs (GET, POST, PUT, DELETE, PATCH) for CRUD operations, etc.
When to use the Wizard API?
- When you want to write simple code to help with basic process automation that provides payment processes to you and/or to your customers.
- When time-to-market is critical
- When you want to prototype/assess Monex Online capabilities
When to use the RESTFUL API?
- When you want to incorporate more payment features
- When you want more granular control of your Monex Online payment processes including getting a rate quote, purchasing currency, and sending payments inside your ecosystem
- When you want to use RESTful support tools to maintain your code and to manage your system operation.
MONEX ONLINE WHITE LABEL
Monex Online is the most advanced online payment platform in the market today. The system combines ease-of-use, clean intuitive design, full domestic and international payments functionality, multi-tier approval, and topnotch security. Available online and as a mobile app for iOS and Android platforms. White Labeling our online payment and reporting platform allows you to manage all aspects of your Monex relationship from
anywhere. Whether you make supplier payments, check holding account balances, add or update beneficiaries, or request a monthly transaction report, our 24/7 trading platform allows clients to do so easily and securely.
Key benefits of White label
- Sell under your Brand
- Strengthens your product offering
- Quick time to market, let Monex do the heavy lifting
- Cost savings—No long development projects tying up resources
- Revenue flexibility—Set your own pricing points
- Highly experienced—20 years of FX excellence as part of the global Monex group, $650mm payments daily
MONEX APPROACH
Monex works with clients and partners to first understand business challenges and objectives. This insight enables us to the define the most relevant solutions while working in a collaborative manner with clients and partners. A team of Monex professionals engages to manage the project in an effcient manner. Typical resources on an implementation project include:
YOUR PAYMENTS TEAM
- Business Relationship Manager
- Integration Product Specialist
- Project Manager
- Marketing Support
FLEXIBLE IMPLEMENTATION SCHEDULE
Monex is flexible in configuring solutions that make the most business sense for clients and partners. Typical timelines to implement:
Explore a simpler, seamless and integrated approach to global payments with Monex.
Will Vigliotta, Senior Director of Operations
Will Vigliotta, Senior Director of Operations
For over 8 years at Monex USA Will has led operations, using his expansive knowledge about payment processes to help drive the accuracy and efficiency of our business functions. Learn more about Will in our currency corner!
Meet Team Monex USA
Say hello to the Monex USA App
Say hello to the Monex USA App
Transact anywhere, anytime from your mobile device with the Monex USA App. Manage all your payments and FX products at your fingertips with end-to-end transaction tracking as well as instant quotes with the ability to buy in a few clicks.
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