Most Innovative Applications Will Win Prizes Worth a Total of $150,000
SAN FRANCISCO, Nov 04, 2009 (BUSINESS WIRE) -- INNOVATE 2009
PayPal today challenged developers to solve the fundamental problems
people face when trying to pay or get paid. With prizes totaling $75,000
in cash and $75,000 in waived fees, the PayPal
X Developer Challenge offers anyone with an idea the opportunity and
seed capital to create a new business based on the PayPal open payments
platform, PayPal X.
Contestants must build their applications using the PayPal
X application programming interfaces (APIs). The challenge: create
the most innovative payment application for businesses in areas such as
services, social media, gaming, mobile and consumer electronics.
The first and second prizes are $50,000 and $25,000 in cash,
respectively, and $50,000 and $25,000 in waived PayPal transaction fees.
To enter the PayPal X Developer Challenge, log on to www.x.com,
read the contest rules, and start coding. The deadline for final
submissions is Feb. 1, 2010. The winners will be announced in March.
Entries must include a link to a demo application and an accompanying
video describing how it would work.
Finalists will be determined by popular vote on x.com and a panel of
distinguished judges including eBay founder Pierre Omidyar; PayPal
president Scott Thompson; general partner of Andreessen/Horowitz, Marc
Andreessen; and Sequoia Capital's Roelof Botha, who will choose the top
two prize winners.
"PayPal is putting developers in the driver's seat to enable new and
emerging business models for their innovations," said Osama Bedier,
PayPal's vice president of platform and emerging technology. "We're
challenging developers to take PayPal X for a spin. And while the prize
money is certainly an incentive, the real reward will be making payments
easy, for the very first time, for an entirely new generation of
applications built by our developer community."
Follow PayPal on Twitter: @PayPal, @PayPalX, #ppxi09 and
#changehowwepay. For more information on the PayPal platform, visit www.x.com.
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 promotional 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 (Nasdaq:EBAY) 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
anayar@paypal.com
or
Access Communications, for PayPal
Lindsay Scalisi, 415-844-6217
lscalisi@accesspr.com
Copyright Business Wire 2009
