Adios PayPal! MasterCard Opens Up To Developers

Discussion in 'BlackHat Lounge' started by The Scarlet Pimp, May 27, 2010.

  1. The Scarlet Pimp

    The Scarlet Pimp Senior Member

    Apr 2, 2008
    Likes Received:
    Chair moistener.
    now this will be good news for anyone who is sick of paypal.

    read some of the comments on the page, seems some people
    don't like the paypal system...

    PayPal Goes On The Defensive After MasterCard Opens Platform To Developers

    Yesterday MasterCard announced a definitive plan to open up its credit cards payments platform to developers to build innovative online and mobile apps. Of course, this has been the territory that PayPal has basked in, thanks to a much hyped launch of its API, PayPal X.

    PayPal senior director of PayPal X, Damon Hougland was quick to defend its place in the arena, saying that since its API was released last Fall, ?thousands of developers have signed up, hundreds of apps have been built, and millions of dollars have transacted over our platform.?

    While this is at the forefront of innovation for MasterCard, PayPal says that the developers who are building off of its platform are ahead of the curve.

    The company cites Bump, a technology to swap information between smartphones by tapping them together, which is used in PayPal?s iPhone app, allowing people to ?bump? iPhones to transfer money (the app was downloaded more than one million times in the first three weeks it was out).

    PayPal, which cites Facebook, Salesforce and IBM as users of its API and technology, says that next month it will offer developers the ability to collect credit card payments from within their PayPal X based application.

    So is MasterCard a real threat to PayPal? Of course, MasterCard has not been known as the most developer friendly in the past, whereas PayPal has spent the past year reaching out to the developer community, even holding a conference completely for developers.

    But it also may come down to the revenue share numbers. PayPal said last year that it charges developers for service-based applications a 50 cent flat free per transaction or 75% percent of transaction depending on user cases.

    Micropayments pricing is 5% plus 5 cents, and e-commerce tiered pricing is 1.9% - 2.9% plus 30 cents. MasterCard hasn?t yet released numbers on revenue share (the platform won?t be released until later this year).

    CYBERTRON Regular Member

    Dec 19, 2009
    Likes Received:
    CPA Network
    USA / Indonesia
    Its the end of days for our friend PPal.
    No more tip toes around your stupid rules
    No more pointless hours on the phone getting accounts put off hold
    No more seeing your money sit there with no way of getting it back for months

    na na na na hey hey hey good bye!

    With this move from mastercard, I wouldnt be surprised to see Facebook jump in with them. They got their hands on everything else.
  3. M1ndfluX

    M1ndfluX Senior Member

    Dec 23, 2009
    Likes Received:
    Great! Visa will have to jump in this too :D
  4. jheyslow

    jheyslow Senior Member

    May 11, 2010
    Likes Received:
    trying new things
    This is good news, I'm sick of pp.