The majority of consumers and businesses have been using financial services that are walled off from each other, with their own payment methods and commerce services. But thanks invariably to utilising a few lines of code through APIs (application programming interfaces), such applications can be brought together.
The idea behind FaaS, according to fintech payments and banking-services company Rapyd, is to be able to provide a full stack of integrated payments, commerce and financial services capabilities that can be embedded into any application.