What’s the difference between an API and an API Product?

API stands for Application Programming Interface, which is a software intermediary that allows two applications to talk to each other. An API product bundles resources (such as API proxies) in order to provide a specific level of access and functionality for client app developers. On the other hand an API product typically specifies a list of API proxies, along with access limits, API key approval method, and other configuration that should be in place for all of the bundled proxies.