PayPal, the immensely profitable payments arm of eBay, is expanding its options for mobile commerce, announcing at its second annual developers conference a feature called Mobile Express Checkout. PayPal claims that its new offering will provide enhanced security and an easy, two-click process — two features the firm sees as critical to advancing its position in an estimated $700 million market.
In addition to the new mobile payment offering, PayPal announced a litany of new partnerships with Web companies including Facebook and merchant services-provider Verifone. ECommerce Guide takes a look.
SAN FRANCISCO — Online payments giant PayPal kicked off its second annual Innovate developer’s conference by unveiling new mobile, social media and digital goods payment options along with a slew of partner announcements from both small and big players including Facebook and Verifone.
Mobile Express Checkout, a new secure two-click checkout feature, extends PayPal’s mobile payments platform. PayPal said it expects more than $700 million in mobile payments to go through its payment infrastructure by the end of 2010 out of the $1 billion in payments it expects to process from all sources.