socialmedian: PayPal woos developers with $150K challenge

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PayPal woos developers with $150K challenge

Source: VentureBeat

Nov 05, 2009

Summary

PayPal has been making a big deal about convincing developers to build cool applications using its global payments platform. Today it added a little more incentive, by announcing the PayPal X Developer challenge, where the creators of the most innovative payments apps will receive a total of $150,000 in cash and waived PayPal transaction fees.

Basically, the PayPal platform is supposed to give companies and developers more flexibility about how they process payments, by opening up a number of new APIs to developers — when the platform was first announced in July, PayPal executives said they wanted their technology to become the “electricity” that powers all online commerce. The initial APIs included the ability to send money, make chained payments, and parallel payments, while new APIs announced yesterday include currency conversation, payments to non-PayPal users, and pre-approved payments.

Contest finalists will be chosen by popular vote at the PayPal developer website, then expert judges (eBay founder Pierre Omidyar, PayPal president Scott Thompson, Andreess

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