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Nov 04
2009
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PayPal Innovate X 2009 kicked off yesterday. At this dedicated developer conference PayPal officially launched their new flexible payments platform known as PayPal X. Adaptive Payments APIs are the first suite of APIs from the PayPal X open platform to be released. There are some additions to Adaptive Payments APIs since the details leaked last June.
Currency Conversion
Allows currencies to be automatically converted using current exchange rates.
Pay Anyone
Allows financial and other institutions to let their customers send money when logged into their bank accounts. The customers sending the money will not need a PayPal account to use the service.
Pre-Approvals
Allows developers to create reusable payments agreements between buyers and sellers. The approval happens online but the money movement can occur offline at different intervals, through different devices that may not be connected to the Internet at the time of payment occurs.
Send Money
Allows developers to build person-to-person (P2P) solutions or business-to-business (B2B) payment applications.
Chained Payments
Allows a payment from one sender to be indirectly split among multiple receivers. This would allow developers or application providers to take a slice of the payment.
Parallel Payments
Allows a payment from one sender to be split directly amount multiple receivers. The sender will know who the receivers are and the amount of money that is paid to each.
Adaptive Accounts API
Allows developers to integrate the PayPal sign-up process into their applications so customers without PayPal accounts can create them in a streamlined sign-up process from within the developers application.
This initial list of APIs is pretty impressive. It is a good move by PayPal as opening up their platform to developers will help extend their reach and customer base further. In particular I think the Adaptive Accounts API and Chained Payments will be very popular with developers and will lead to some innovate applications.
Dave
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