At the inaugural PayPal X Innovate 2009 conference in San Francisco, the company officially announced the PayPal X program, to release APIs. This allows developers to integrate PayPal seamlessly into third-party applications, ultimately helping PayPal compete against similar online payment services.
The new PayPal APIs allow developers to engage customers directly and within their own applications, where it has always been the custom to force users to visit the actual PayPal website. With the new system, customers who don’t use PayPal can sign up for the service within the third-party application, able to begin making payments seamlessly and immediately.
PayPal intends to make it simpler for developers to leverage its payment system, and hopefully for the company, make PayPal a sort of de facto currency for the Web. Another part of the goal is expanding the types of transactions PayPal is used for, including things like paying rent, or employee payroll.
PayPal has been an established name in online transactions for nearly a decade. It built a reputation for providing safe and secure means of making payments for things like EBay purchases and worked so well that EBay bought PayPal back in 2002. Courtesy of pcworld.com