DefinePK

Abstract

The accelerated growth of carrying out financial transactions digitally has given rise to the increasing reliance on electronic wallets (e-wallets) as a means of conducting cashless payments. Interoperability between such e-wallets has, however, remained a major challenge, hindering the conduct of seamless transactions across payment platforms. This study therefore proposes an Application Programming Interface (API) infrastructure to enable users to transfer funds across multiple closed and semi-closed e-wallet systems. The methodology deployed to achieve this goal involves the development of a (Representational State Transfer) REST-based API services deployed on a cloud-based infrastructure, enhancing secure, efficient, and scalable inter-wallet fund transfers. The adopted performance metrics include a measure of concurrent API requests recorded between 50 and 500 Requests per Second (RPS), average API response time between 200ms to 500ms and database transactions between 500 to 1000 Transactions per Second (TPS). The result of this system suggests an improved transaction speed, usability, and security. The findings contribute towards continuous research efforts to improve interoperability among digital transactions targeted at a holistic financial inclusivity.
 Keywords: E-Wallet Interoperability, Financial Inclusion, API Infrastructure, Digital Transaction, Secure Fund Transfer.