EBay's PayPal Launches Open Payments System

Nov 3rd, 2009 - Wall Street Journal

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(Updates with additional details on partners, mobile payments and transaction fees.)

Of DOW JONES NEWSWIRES

SAN FRANCISCO (Dow Jones)--EBay Inc.'s (EBAY) PayPal unit on Tuesday launched new technology that makes it easier for third-party software developers to fold the online payments system into their own applications.

The move comes as the Internet commerce giant looks to the PayPal unit to serve as a key growth driver, while eBay works to make much-needed changes to its core marketplaces business--and as PayPal faces looming competition from some of the Web's biggest names.

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