25 September 2016
Find out more

PayPal unveils micropayments system; Facebook on board

27 October 2010  |  10715 views  |  0 online add to cart

PayPal has signed up a slew of big names, including Facebook and FT.com, to a new micropayments system for digital goods and services.

The system, unveiled at the firm's annual PayPal X Innovate conference, lets users pay for virtual goods and content in as little as two clicks, without having to leave a publisher's game, news, music, video or media site.

Facebook has agreed to integrate the technology in its site and is joined by Autosport.com, FT.com, GigaOM, Justin.tv, Ooyala, Plimus, Tagged, Tyler Projects and Ustream.

Mary Beth Christie, head, product management, FT.com, says: "Our readers want their news on demand, whether they're on a laptop, a mobile phone or a tablet. PayPal helps us provide the experience our customers expect, along with flexibility to experiment with payment mechanisms for subscriptions. This gives our customers the flexibility to pay for what they want, when they want."

PayPal has also introduced an online checkout system for physical goods that does not require the customers to leave a merchant's app or Web site. The system, which has been adopted by FundRazr and Payvment, means users can create an account, view payments details, choose a shipping address and approve the transaction without being redirected to PayPal.

Bill.com, CreditKarma, Expensify, Freshbooks, Shipwire and Zuora have all signed up to another initiative which lets developers embed their applications directly in the PayPal Web site.

Meanwhile, Discover has teamed with the eBay unit, tapping its new Adaptive Payments APIs to offer card members person-to-person payments. The Money Messenger system lets customers send money to another person via Discover.com or a smart phone using only the recipient's e-mail address or mobile number.

Another financial services firm, USAA Bank, is also using PayPal technology for a P2P payment system that only requires e-mail addresses or phone numbers. This is expected to go live next year.

On mobile initiatives, in addition to the previously announced VeriFone integration, a new PayPal iPhone app is being launched with location-based features and there are also new functionality and enhancements to the Mobile Payments Library.

Osama Bedier, VP, platform, mobile and new ventures, PayPal, says: "The convergence of mobile, social networking, and location-based technology is creating tremendous opportunity for developers today. It's like the gold rush of the dot-com era, only bigger and smarter."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

VeriFone extends mobile payments acceptance with PayPal

VeriFone extends mobile payments acceptance with PayPal

26 October 2010  |  10139 views  |  0 comments
Facebook to sell virtual currency gift cards at US retail stores

Facebook to sell virtual currency gift cards at US retail stores

01 September 2010  |  10869 views  |  0 comments
Google considers PayPal payments option for Android apps

Google considers PayPal payments option for Android apps

16 August 2010  |  8703 views  |  1 comments
PayPal boosts eBay Q2 results

PayPal boosts eBay Q2 results

22 July 2010  |  8372 views  |  0 comments
Facebook moves virtual currency offline

Facebook moves virtual currency offline

09 July 2010  |  11705 views  |  0 comments
PayPal launches mobile version of Express Checkout

PayPal launches mobile version of Express Checkout

02 July 2010  |  9965 views  |  0 comments
PayPal mobile developer library enters open beta

PayPal mobile developer library enters open beta

28 April 2010  |  8728 views  |  0 comments
M-payments firm Zong secures $15m funding

M-payments firm Zong secures $15m funding

27 April 2010  |  7404 views  |  0 comments
PayPal iPhone app downloaded one million times in three weeks

PayPal iPhone app downloaded one million times in three weeks

07 April 2010  |  10248 views  |  0 comments
PayPal iPhone app lets users 'bump' phones to pay

PayPal iPhone app lets users 'bump' phones to pay

16 March 2010  |  12606 views  |  0 comments
PayPal launches developer library for mobile payments

PayPal launches developer library for mobile payments

12 February 2010  |  8608 views  |  0 comments
PayPal hit by global outage

PayPal hit by global outage

04 August 2009  |  9030 views  |  0 comments
PayPal woos third party developers with Adaptive Payments

PayPal woos third party developers with Adaptive Payments

07 July 2009  |  122961 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit i2cinc.comVisit www.smartstream-stp.comVisit colt.net

Top topics

Most viewed Most shared
Co-habitation with banks key to fintech futureCo-habitation with banks key to fintech fu...
13433 views comments | 34 tweets | 34 linkedin
hands typing furiouslyGoogle's Larry Page buys a 'major global b...
12803 views 0 | 31 tweets | 25 linkedin
RBS tests demonstrate ability of Ethereum to support a national domestic payments systemRBS tests demonstrate ability of Ethereum...
10645 views comments | 42 tweets | 27 linkedin
Banks test blockchain for reference data managementBanks test blockchain for reference data m...
8150 views comments | 16 tweets | 24 linkedin
Deutsche Bank teams up with accelerator to back fintech startupsDeutsche Bank teams up with accelerator to...
7023 views comments | 12 tweets | 5 linkedin

Featured job

Find your next job