PayPal Opens Its Global Payments Platform
- 04 November, 2009 14:16
<p>SYDNEY– Nov. 4, 2009 – At Innovate 2009 in San Francisco, PayPal today opened its global payments platform, PayPal X. The company unveiled new application programming interfaces (APIs), a new developer portal, and demonstrated a mobile payment toolkit to embed payments directly into mobile applications – starting with the iPhone.</p>
<p>“The whole world is going digital, and the future of how we communicate, how we get information, and even how we transact, is in the hands of developers,” said Scott Thompson, PayPal’s president. “The network is the platform on which the potential of digital money will be fully realized.”</p>
<p>New Capabilities for Adaptive Payments</p>
<p>PayPal unveiled new capabilities and enhancements for its Adaptive Payments APIs, expanding payment functionality for multiple recipients and on multiple platforms. New capabilities include:</p>
<p>• Currency conversion: Fast, easy global payment apps, automatically converting currencies using current exchange rates*.
• Pay Anyone: For financial and other institutions to let their customers send money when logged in to their bank accounts. Their customers won’t need a PayPal account to use the service.
• Pre-approvals: Enables developers to create reusable payments agreements between buyers and sellers. While payment approval happens online, the actual money movement can occur offline at different intervals, and through multiple devices that are not necessarily Internet-connected at the time.</p>
<p>The initial Adaptive Payments APIs have all been upgraded. Tested by more than 1,000 developers in the beta program, they are now available globally.</p>
<p>• Send Money: Developers can build person-to-person (P2P) solutions or business-to-business (B2B) payment applications on their platform of choice – whether it’s the mobile phone or a social networking site.
• Chained Payments: Developers can take a cut or distribute funds from PayPal payments as they happen.
• Parallel payments: Developers can enable buyers to send money to several people in one payment, which is ideal for purchasing multiple items from different sellers, or even for payroll applications.</p>
<p>Introducing Adaptive Accounts</p>
<p>PayPal introduced a beta of its Adaptive Accounts API to provide a streamlined signup experience for people who don’t have PayPal accounts, while maintaining security and privacy of consumer data. With the new API, developers can create PayPal accounts for their customers from within their applications. Developers attending Innovate 2009 will be given exclusive access to this new API until the end of the year. Non-attendees, including developers from Australia, will have access to Adaptive Accounts from the first quarter of 2010.</p>
<p>Mobile Embedded Payment Toolkit Beta</p>
<p>A key component of PayPal X will be the mobile payment software development kit (SDK), which makes it easier for developers to integrate PayPal into mobile applications to buy physical goods. With just a few lines of code, developers can add a checkout button to accept mobile payments without having to worry about collecting any financial information. The mobile SDK, which will initially support iPhone, will be available in the first half of 2010.</p>
<p>“Mobile transactions have been notoriously tough to monetize,” said Osama Bedier, PayPal’s vice president of platform. “With the new SDK, just tell us how much you want to get paid and what the payment is for, and the funds will be transferred in seconds, not days or weeks.”</p>
<p>X.com Developer Portal</p>
<p>PayPal also unveiled X.com, a new developer portal that contains all the information developers need to create applications built with PayPal X. All general sessions at Innovate 2009 can be viewed live from x.com, and all sessions from the conference will be available for viewing at x.com after the conference.</p>
<p>Innovate 2009 Twitter handles and hashtags include: @PayPal, @PayPalX, #ppxi09 and #ChangeHowWePay.</p>
<p>PayPal is the faster, safer way to pay and get paid online. The service allows members to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts, or credit cards. PayPal is Australia’s preferred way to pay online when compared to other online payment systems and individual credit card brands according to Nielsen Online Consumer Report 2H 2008. With more than 78 million active accounts in 190 markets and 24 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company. For more information, visit www.paypal.com.au.</p>
<p>* Currency conversion fees apply
The PayPal service is provided by PayPal Australia Pty Limited (ABN 93 111 195 389) which holds an Australian Financial Services Licence, number 304962. Any advice here does not take into consideration your objectives, financial situation or needs which you should consider before acting on our recommendations. You should read and consider the PDS before deciding whether to acquire any product.</p>
Kasia Ciszak, The De Wintern Group
Tel: 02 9360 2156
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