<p>Till now, PayPal could be used to pay for deals made by its members on eBay.<br />In a statement, PayPal said its newly launched application programming interfaces (APIs) will allow developers to embed its secure global payment system into their applications and platforms.<br />In opening up the PayPal platform, developers can now create new ways to send and receive payments for services beyond traditional e-commerce, the statement said.<br />The global leader in e-commerce, PayPal has more than 75 million active accounts in 19 currencies around the world. It enables its members to send money without sharing financial information.<br />PayPal also offers them the flexibility of paying from their account balances, bank accounts, credit cards or personal financing.<br />It has three online payment services: the PayPal global payments platform, the Payflow Gateway company, and Bill Me Later.<br />According to a recent McKinsey report, the global payments market has the potential to reach $30 trillion.<br />For over a decade, PayPal has been a secure, global payments network for e-commerce and person-to-person transactions. Globally, it integrates 27 financial networks, 15,000 local banks, 190 markets and 19 currencies.<br />The company said several developers have already integrated its new APIs as part of a beta programme.<br />"Until now, developer innovation has been stifled by the barriers payment systems impose," PayPal president Scott Thompson was quoted as saying in the statement.<br /></p>
<p>Till now, PayPal could be used to pay for deals made by its members on eBay.<br />In a statement, PayPal said its newly launched application programming interfaces (APIs) will allow developers to embed its secure global payment system into their applications and platforms.<br />In opening up the PayPal platform, developers can now create new ways to send and receive payments for services beyond traditional e-commerce, the statement said.<br />The global leader in e-commerce, PayPal has more than 75 million active accounts in 19 currencies around the world. It enables its members to send money without sharing financial information.<br />PayPal also offers them the flexibility of paying from their account balances, bank accounts, credit cards or personal financing.<br />It has three online payment services: the PayPal global payments platform, the Payflow Gateway company, and Bill Me Later.<br />According to a recent McKinsey report, the global payments market has the potential to reach $30 trillion.<br />For over a decade, PayPal has been a secure, global payments network for e-commerce and person-to-person transactions. Globally, it integrates 27 financial networks, 15,000 local banks, 190 markets and 19 currencies.<br />The company said several developers have already integrated its new APIs as part of a beta programme.<br />"Until now, developer innovation has been stifled by the barriers payment systems impose," PayPal president Scott Thompson was quoted as saying in the statement.<br /></p>