PayPal announced Wednesday at the PayPal X Innovate 2009 conference in San Francisco, that the company has developed a new global payment platform being dubbed PayPal X. The new software will provide new APIs, a new developer portal, and some introductory services pricing, designed to help web-developers take advantage of PayPal X to build small businesses by integrating PayPal easily into third-party applications.
Currently, consumers who use PayPal are directed off the current site or application they are on and transferred to PayPal’s actual site. But the developers want to engage customers directly within third-party applications so users won’t be transferred to PayPal’s site. Consumers who do not have a PayPal will be able to sign up for PayPal within the third-party application and begin making PayPal payments immediately from the third-party application.
PayPal President Scott Thompson said, “We’re taking all of our product capabilities and making them open and that much easier for you to use.”
The company is also trying to make it easier for smart phone users by incorporating PayPal payments into mobile applications. Google Checkout, which rolled out some new features this week is also working on mobile devices, trying to develop an app before PayPal.
Some of the other PayPal X features being unveiled include, 3 new currency conversions, you’ll be able to pay anyone with or without a PayPal account, and payment agreement plans.
Developers are able to build person-to-person (P2P) solutions or business-to-business (B2B) payment applications on mobile devices and social networking sites. They are able to take a cut or distribute funds from PayPal payments as they happen. Developers can also enable buyers to send money to several different people in one payment. This will become useful for buyers who purchase different items from different sellers.
The mobile payment software is scheduled to be unveiled within the first half of 2010, and the developer portal is currently available.