WorldNet have announced a special offer as part of the launch of their new website. The 50/50 Offer guarantees the first 50 merchants to sign-up under this offer a 50% saving on their online payment costs for the first year. The offer is clearly targeted at larger merchants, requiring an average payment fees spend of €500 per month to be eligible for the offer. The offer is valid until March 31st and more details can be found on the new WorldNet site.

BillFaster is a new Irish start-up that is offering a free invoicing and cash management online application with the promise that you can get paid faster. The application does not provide a full accounting system, instead it focuses on the key functions essential to small businesses. BillFaster.com have already signed up over 2,000 businesses and they plan to officially launch in the USA and Australia later this year.

PayPal have introduced a beta version (currently US only) of their mobile payments library that is part of their PayPal X global payments platform. The mobile payments library will allow developers to embed PayPal payments within iPhone applications thus allowing customers to make purchases without leaving the application. More details can be found on x.com.

Dave

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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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