openPR Logo
Press release

PayPal Unveils New Payment System For Virtual Goods Fully Integrated With Facebook

11-01-2010 08:17 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Observer Network UG

Berlin – 29th October – Today it was officially announced that online payments and money transfer company PayPal, is introducing a new system for online micropayments this fall. The new service will offer an easier way buy digital goods online and simplify micropayments in digital content such as games. PayPal also announced that the new service, upon arrival, will be fully integrated with the social network Facebook, Inc.

PayPal’s new system offer clients a fee structure for micropayments at a pricing of 5 percent plus 5 cents for purchases under $12. According to the announcement made by PayPal, the fee structure will enable the company to stay competitive in the growing online payment market and in the digital goods industry. PayPal announced that the new service for micro payments is to be based on the fraud prevention engine previously developed by PayPal, ensuring protection of financial information.

“The decision to purchase digital goods and content usually happens on impulse, so the act of paying needs to be as quick as that impulse”, a PayPal spokesperson said upon the announcing of the new service. The new payment method offers its clients not only a faster and more reliable service; it also comes with PayPal’s competitive pricing.

At the second annual Innovate developer conference held by PayPal, Facebook Chief Operating Officer Sheryl Sandberg, announced that Facebook will integrate PayPal’s new digital goods payment system to make it an integrated part of making purchases on Facebook. The new service will according to PayPal be easy to use and it solves a problem for the virtual goods industry, which have been lacking a safe, fast and reliable service for micropayments across the world.

PayPal is one of the leading payment methods for digital goods, with 90 million accounts in 190 markets around the world. The company closed out 2009 with $2 billion of total payment volume for digital goods and reached $1.3 billion in the first half of 2010. PayPal’s payment system for digital goods will be available late fall this year.

PayPal an online payments and money transfer service founded in 1998. The company allows you to send money via email, phone, text message or Skype. PayPal offer products to both individuals and businesses alike, including online vendors, auction sites and corporate users. PayPal connects effortlessly to bank accounts and credit cards.

Social Games Observer is the first European blog to report industry news about the highly dynamic social games, social networks and game monetization markets.With a strong focus on the European market, Social Games Observer provides relevant news for game and app developers as well as publishers. We report from trade shows around Europe and conduct interviews with industry insiders in order to keep you informed about the latest products and ideas.

Observer Network UG
Erkelenzdamm 59-61 Portal 1B
10999 Berlin
Tel. +49 (0)30 6165191811
http://www.socialgamesobserver.com

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release PayPal Unveils New Payment System For Virtual Goods Fully Integrated With Facebook here

News-ID: 149950 • Views:

More Releases for PayPal

DoJiggy Integrates Fundraising Platform with PayPal
July 24, 2024 - This new integration allows organizations to add PayPal as a payment processing option on the DoJiggy fundraising platform. Boulder, CO - DoJiggy, an industry-leading fundraising platform, has added PayPal as a payment processing option for campaign organizers. This collaboration simplifies donation collection, enhances the donor experience, and offers a trusted and comprehensive solution for accepting payments online. The integration with PayPal is built into the
Alternative Payment Solution: PayPal By Braintree, Venmo, Visa, PayPal, Masterca …
PayPal is one of the largest payment service providers globally. It enables digital payments and offers acceptance solutions for consumers and merchants. The company specializes in online payments, mobile and e-commerce, fund transfers, and payment processing. It has expanded its capabilities through the acquisitions of Zong, Paydiant, CyActive, Modest, Braintree, Xoom, Swift Financial, and TIO Networks. Founded in 1998 in the US, PayPal is now available in more than 200 markets,
Global Bluetooth Beacons Market 2018 - Estimote, PayPal, Gimbal
Eminent Market, recently published a detailed market research study focused on the “Bluetooth Beacons Market” across the global, regional and country level. The report provides 360° analysis of “Bluetooth Beacons Market” from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global PP Pipe industry, and estimates the future trend of Bluetooth Beacons on the
Alternative Payment Solution: PayPal
ReportsWorldwide has announced the addition of a new report title Alternative Payment Solution: PayPal to its growing collection of premium market research reports. In terms of transaction value, PayPal is the second-largest alternative payments service provider globally, after Alipay. It enables digital payments and offers acceptance solutions for consumers and merchants. The company specializes in online payments, mobile and e-commerce, fund transfers, payment processing, payment security and monetization services for developers.
Victoria Plumb Introduces PayPal Payments
Hull, United Kingdom (21 June, 2011) - Victoria Plumb, a leading UK online luxury retailer of bathroom furniture and accessories, announce that from 7th June 2011 they will be introducing PayPal payments on their website. Victoria Plumb is passionate about designer bathroom furniture which can cater to both modern and traditional homes. Victoria Plumb continually strive to provide their customers with the finest bathroom furniture ranges on the market, which
Carat wins £2m PayPal media account
Carat has been appointed in the UK to handle the £2m media strategy, planning and buying requirements across all on- and off-line media for PayPal, the online payment platform. PayPal is a platform providing a secure online payment method, which can be used for payment at thousands of online retailers, without sharing any financial information with them. Carat, who pitched successfully against a number of undisclosed agencies, will develop a multiple