What functionality does the Setup Intents API provide?

The Setup Intents API is specifically designed to facilitate the process of establishing a payment method that can be used for future payments without creating an immediate charge. This API is particularly useful in scenarios where you want to collect payment information from your customers and securely save it for later use, thereby allowing you to charge them at a future date with their consent.

By using the Setup Intents API, developers can manage interactions around securely saving payment methods, ensuring that they comply with regulations such as Strong Customer Authentication (SCA) while providing a seamless customer experience. This is essential for businesses that rely on recurring payments or wish to ease future transactions for their customers by reducing friction associated with re-entering payment information.

In contrast, other functionalities mentioned in the options focus on different aspects of payment processing that the Setup Intents API does not cover, such as immediate payment authorization, performance tracking, or modifications to existing payment methods.