Announces New APIs; Introduces Developer Pricing for Services and Toolkit for In-App Mobile Payments
SAN FRANCISCO, Nov 03, 2009 (BUSINESS WIRE) -- INNOVATE 2009
PayPal today opened its global payments platform, PayPal X. The company
unveiled new application programming interfaces (APIs), a new developer
portal and introductory services pricing to help developers reap the
financial benefits of building businesses on PayPal
X. PayPal also demonstrated a mobile payment toolkit to embed
payments directly into mobile applications -- starting with iPhone.
"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."
New Capabilities for Adaptive Payments
PayPal unveiled new capabilities and enhancements for its Adaptive
Payments APIs, expanding payment functionality for multiple recipients
and on multiple platforms. New capabilities include:
--
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.
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.
--
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.
Introducing Adaptive Accounts
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.
New Pricing for Services Payments
Starting in Q2 2010, PayPal will offer pricing for developers building
applications in markets that are traditionally served by cash and
checks, such as rent, consulting businesses or payroll. The introductory
pricing is:
--
A flat fee of 50 cents for service transactions funded by a bank
account or PayPal account balance, with a three-day settlement period;
or
--
A 0.75 percent fee for service transactions funded by a bank account
or PayPal account balance, with instant settlement.
With the introductory services pricing, PayPal now offers a
comprehensive pricing package for developers. This includes PayPal's
tiered e-commerce pricing of 1.9 - 2.9 percent plus 30 cents; and
PayPal's micropayments pricing of 5 percent plus 5 cents, ideal for
transactions under $10. In addition, PayPal will soon extend its free
P2P pricing to developer applications.
Mobile Embedded Payment Toolkit Beta
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.
"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."
X.com Developer Portal
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.
Innovate 2009 Twitter handles and hashtags include: @PayPal, @PayPalX,
#ppxi09 and #ChangeHowWePay.
About PayPal
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,
credit cards or personal financing. 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 and is made up of
three leading online payment services: the PayPal global payments
platform, the Payflow Gateway and Bill Me Later. More information about
the company can be found at https://www.paypal.com.
SOURCE: PayPal
PayPal
Anuj Nayar, 408-967-5730
Director, Global Communications at PayPal
anayar@paypal.com
or
Access Communications for PayPal
Bri Vorse, 415-844-6215
bvorse@accesspr.com
teampaypalplatform@accesspr.com
Copyright Business Wire 2009
