SAN FRANCISCO—PayPal on Tuesday announced a payments program for digital goods at its PayPal X Innovate developer conference, with Facebook as its initial partner.
PayPal for Digital Goods allows a two-click purchase of digital goods, such as FarmCash within Zynga on the Facebook platform.
As the payments arm of eBay, PayPal's presence is critical for the company. In the third quarter, eBay's Payments business and PayPal drove the company's revenues.
PayPal made a number of announcements at its PayPal X conference, including embedded payments and enhanced mobile payments plans. But the digital goods program brings virtual payments to Facebook's 500 million users and its gamers.
"More people play games on Facebook than on all of the consoles combined," said Sheryl Sandberg, the chief operating officer of Facebook, who appeared on stage at the PayPal conference to help announce the partnership.
PayPal will charge 5 cents plus 5 percent of the transaction for purchases under $12, PayPal said.
"It's just like dropping a quarter into an arcade machine," said Osama Bedier, vice president of PayPal's mobile and new ventures.
Autosport.com, FT.com, GigaOM, Justin.tv, Ooyala, Plimus, Tagged, Tyler Projects, and Ustream also said that they would partner with PayPal for the new digital goods. GigaOM and the FT.com appeared on stage next to Bedier to demonstrate micropayments in the news business, charging about 45 cents for a premium article. Mary Beth Christie, the head of product management for the FT.com, also said that the FT will begin charging a small fee to send a friend a full press clipping in 2011.
http://www.pcmag.com/article2/0,2817,2371515,00.asp
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