Visa may be a name most associated with consumer credit. However, this company is a major player in all areas when it comes to both business and personal finance. As such, the management team at Visa has an eye turned towards the future--a future in which businesses can get paid faster, money can change hands easily and consumers can choose whether they want to interact with banks and cash registers or not.
Visa Inc. has created around 60 application programming interfaces just since early 2016. These interfaces include adding payment capabilities to IOT (Internet of Things) devices such as refrigerators or cars and making it possible to pay independent contractors (such as ride-share drivers) immediately. Let's look further into the technology.
What is an API?
An Application Programming Interface, also known as an API, is a section of code that is used by developers as they build software and applications. Apps on the phone and software that runs computer systems all use APIs to connect with other devices and pieces of software. APIs hold together digital platforms and connect with each other in a standardized way. APIs are strategically used by companies, allowing them to grow and scale more quickly or to make internal programs run smoother than in years past.
To create the sheer number of APIs it did over the past couple of years, Visa hired around 2,000 IT employees. The number may seem shocking, but these employees built code, implemented it and dealt with other IT concerns that cropped up during the process. Staffing was not a problem because Visa got a jump on the competition.
Visa looked beyond its traditional business model as it has embraced APIs. The purpose of this was to remain relevant in an era where digital and physical collide more than ever before. Visa has focused on consumers’ desire for immediacy creating these APIs. The job is far from complete as Visa will continue to create new APIs and find new ways to use the existing code to meet the needs of all consumers.
As other industries and firms see what Visa is accomplishing with payments and finances, it only makes sense that they may want to build their own APIs or adapt existing code to meet business needs too. This desire to stay competitive means that the need for talented IT staff may be larger than it has ever been. Considering how many employees Visa hired, it would only make sense that thousands of others may be needed by corporations around the world as they embrace the APIs too.
Instead of struggling with hiring internally, companies may want to get creative as they look for knowledgeable API professionals. Working with a staffing agency that specializes in IT professionals is an excellent way to make sure your firm has access to the experts needed to take advantage of APIs in the future too. The future of finance and consumer-based industries will demand API talent at a level that was unheard of in years past. Many of these experts are working with staffing agencies today so that they can be at the forefront of this technological leap and find positions in the top businesses.
If your company is planning to staff for IT in the next few years, now may be the time to begin. Don't run the risk of falling behind or facing a staffing shortage. If you have questions about staffing for the API era, reach out to us at ICS today. We look forward to helping you get ahead of the competition and accomplish amazing things.