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PayPal Opens Payments Platform to Developers

By Jason Ankeny

Online payment solutions provider PayPal announced its decision to open its PayPal X global platform to developers, unveiling a series of new APIs as well as a mobile SDK to embed payments directly into iPhone applications.

According to PayPal, developers can now build person-to-person solutions or business-to-business payment applications on their platform of choice, whether it's a mobile device or a social networking site. Developers can also take a cut or distribute funds from PayPal payments as they happen, and can enable buyers to send money to several people in one payment. The mobile SDK--scheduled to launch in the first half of 2010--will enable developers to integrate PayPal services into mobile apps so that consumers can purchase physical goods; PayPal adds that funds will be transferred in a matter of seconds.

New capabilities and enhancements for PayPal's Adaptive Payments APIs include currency conversion for international purchases, Pay Anyone (enabling financial and other institutions to allow customers to send money when logged in to their bank accounts, regardless of whether the customer has a PayPal account) and pre-approvals (giving developers the flexibility to create reusable payments agreements between buyers and sellers). A new developer portal, X.com, promises all the information developers need to create applications built with PayPal X. PayPal now boasts more than 78 million active accounts in 190 markets and 24 currencies worldwide. [FierceDeveloper]

Mobile Payment Transaction to Exceed $300B Globally Within 5 Years

A new analysis of the mobile payments opportunity forecasts that the gross transaction value of payments made via mobile phone for digital goods (such as music, tickets and games) and physical goods (typically gifts and books) will exceed $300bn globally by 2013.

A region by region analysis by Juniper Research found that there is a significant and immediate opportunity for mobile payment services, systems, software and supporting services to underpin the processing of this value of payment transactions by 2013. With applications and service case studies, the study explores how the mobile phone is developing into a payment tool that will be used by more and more people, more and more often in future.

Report author Howard Wilcox noted: "Merchants in North America and Western Europe are just starting to realise the potential of a mobile web presence as a fourth channel to market. Retailers should be evaluating the benefits of the mobile web, and be mindful of the success of regular ecommerce sites in generating sales. They need to move quickly to exploit the opportunity presented, and ensure that they maintain ease of use for their customers who are already familiar with web shopping from their PCs."

Highlights from the report include:

  • Global annual gross transaction value will grow over 5 times by 2013
  • The ticketing segment will be driven by consumer usage on rail, air and bus networks as well as sports and entertainment events This will represent over 40% of the global transaction value by 2013
  • The top 2 regions (Far East and W. Europe) will represent over 60% of the $300bn p.a. global mobile payment gross transaction value by 2013 for digital and physical goods

Western Europe is currently dominated by digital goods and services sold via SMS, whereas the Far East & China region (specifically Japan) is already well established in physical goods sales over the mobile web, and has been for a number of years.

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