By Jeremy Kirk, Jul. 8, 2009
PayPal will soon open up its platform to third-party developers, allowing them to build applications with a range of money transfer options. PayPal, which is owned by eBay, is developing what it calls the Adaptive Payments Service, which consists of a set of APIs (application programming interfaces) that let different programs exchange information. In PayPal's case, the APIs will allow applications that can support transactions such as "chain payments," where a buyer sends a payment to a primary seller, which then can pass on portions of that money to others with an interest in the transaction. The APIs will be previewed at PayPal's corporate headquarters in San Jose, California, on July 23, wrote Damon Hougland, senior director of product development. "We believe that providing a global payments platform will open up countless opportunities for developers to innovate and create new revenue streams," Hougland wrote.
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