PayPal Announced PayPal X Developer Network

The online financial transactions firm PayPal, announced on Tuesday (3) a new program for platform developers called PayPal X. Through it, developers will have access to APIs that enable integrating shopping and payment systems within the applications themselves web, and can exchange ideas and ask questions of each other.

Despite increasing the risk of type scams phishing, the new system will speed up the transactions with PayPal, which the current model is to redirect users to the site of the service itself where they sign in, they expect payment processing and are sent back to the page you left.

To encourage developers to integrate the new payment system on their sites using PayPal X, the company also created a contest that will give US $ 50,000 for those who create the most innovative web application in the service area, social media, games, mobile and electronic and another $ 25,000 for second place. The finalists will be judged by public vote and the two winners are chosen by the contest judges panel that includes the company’s CEO, Pierre Omidyar.

Allied to this, they also announced that the fees charged for each transaction will be reduced from the middle of next year. And for those who buy at DealExtreme quite often, this is the best news. [InformationWeek]