Modulr Payments & Embedded Finance API
Modulr Payments REST API for UK and European payment accounts and embedded finance platform. Enables AI agents to manage payment account creation and management for customers and businesses, handle Faster Payments, CHAPS, BACS, and SEPA payment initiation, access real-time transaction notification via webhooks for payment monitoring, retrieve account balance and transaction history for reconciliation, manage virtual sort codes and IBANs for payment routing, handle direct debit and mandate management automation, access bulk payment processing for payroll and disbursement, retrieve FX and international payment capabilities, manage open banking and PSD2 payment initiation flows, and integrate payment account data with accounting, ERP, and financial operations platforms.
Score Breakdown
⚙ Agent Friendliness
🔒 Security
UK/EU embedded payments. FCA, PSD2, GDPR. API key + HMAC. EU/UK. Payment and account data.
⚡ Reliability
Best When
A UK or European fintech, payroll provider, or marketplace using Modulr wants AI agents to automate payment account management, bulk payment processing, real-time reconciliation, and embedded payment workflows.
Avoid When
FINANCIAL RISK: Payment automation without proper approval workflows can cause incorrect or unauthorized payments — implement dual authorization for large payments. Bulk payment files require validation before submission; errors cannot be reversed after settlement. FX payments without rate locking can create FX exposure.
Use Cases
- • Automating supplier payments from accounts payable agents
- • Managing client payment accounts from marketplace agents
- • Processing payroll disbursements from HR automation agents
- • Reconciling payment transactions from financial operations agents
Not For
- • US-only payment processing without UK/EU payment requirements
- • Consumer retail payments without B2B or embedded finance context
- • Card issuance programs without payment account and banking focus
Interface
Authentication
Modulr uses API key and HMAC signature authentication. Request signing with API key and secret for security. Sandbox at sandbox.modulrfinance.com. Webhooks for real-time payment notifications. UK FCA authorized e-money institution. EU PSD2 compliant via Irish EMI license. Documentation at modulr.readme.io. IP allowlisting recommended for production.
Pricing
Edinburgh, Scotland. Founded 2016. Private company (Blenheim Chalcot portfolio). UK payment accounts and embedded finance. FCA authorized EMI. Strong in payroll, insurance, and travel sectors. 250+ clients. Direct Faster Payments participant (rare for non-bank). Also EU SEPA via Irish EMI. Competes with Railsr and ClearBank for UK embedded finance.
Agent Metadata
Known Gotchas
- ⚠ FINANCIAL RISK: Payment automation requires approval workflows; implement dual authorization for payments above threshold; errors after settlement cannot be reversed
- ⚠ HMAC signing required — all requests must be HMAC-signed with API secret; implement signing middleware; unsigned requests rejected
- ⚠ Idempotency keys — use unique idempotency keys for all payment submissions to prevent duplicates on retry
- ⚠ Direct Faster Payments — Modulr is a direct participant, not via a sponsor bank; payments can settle in seconds; test webhook handling for rapid settlement
- ⚠ IP allowlisting — production API keys should have IP allowlist configured; unauthorized IP access blocked
- ⚠ Bulk payment validation — validate bulk payment files before submission; partial failure handling requires understanding of which items were processed
Alternatives
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Scores are editorial opinions as of 2026-03-07.