Showing posts with label PayPal. Show all posts

Friday, May 27, 2011

PayPal Sues: Google Stole Our Trade Secrets to Create Google Wallet

Google launches NFC payment service, eBay sues alleging theft

By Josh Ong - Apple Insider

After Google unveiled the Google Wallet Near Field Communication mobile payment service on Thursday, eBay and subsidiary PayPal filed a lawsuit alleging the project's team leader stole trade secrets to create the service. MacNN reports that, within hours of the Google Wallet launch, eBay sued the search giant for allegedly using the company's trade secrets to build the technology. According to the complaint, Google Wallet project lead Osama Bedier was poached away from PayPal in the middle of negotiating a deal between the two companies. read more

Tuesday, October 26, 2010

VeriFone Extends Mobile Payments Acceptance with PayPal

October 26, 2010 08:00 AM Eastern Daylight Time

Traditional Card Payments to Integrate with PayPal Mobile Payments

PayPal Mobile App to Work with VeriFone’s PAYware Mobile for iPhone

VeriFone’s App to Support Bump

SAN FRANCISCO--(BUSINESS WIRE)--VeriFone Systems, Inc. (NYSE: PAY) today announced that it will expand PayPal payment acceptance in the mobile environment and further integrate the worlds of online and traditional card-based payments.

“VeriFone is a proven leader in payments point of sale and we're excited to have them in the PayPal ecosystem”

During PayPal X Innovate 2010, the companies showcased the planned integration of PayPal payment with VeriFone’s PAYware Mobile card encryption sleeve for iPhone and announced:

PayPal’s merchant acceptance application will be enhanced to support traditional card-based payments using VeriFone’s PAYware Mobile card encryption
The PAYware Mobile App will be enhanced to support PayPal Bump technology that enables iPhone users to bump their phones together to transfer money between them
VeriFone will, upon integration, promote PayPal and Bump acceptance to its vast reseller channel
PayPal will market VeriFone’s PAYware Mobile to its user base
The planned integration by VeriFone will enhance its PAYware Connect payment gateway service to provide merchants with integrated transaction reports for PayPal and traditional card payments

“Rapid adoption of mobile payments makes it possible to further align PayPal payments with traditional card-based transactions at the physical point of sale,” said Jeff Dumbrell, VeriFone executive vice president.

“VeriFone is a proven leader in payments point of sale and we're excited to have them in the PayPal ecosystem,” said Osama Bedier, PayPal’s vice president of platform, mobile and new ventures. “Online and offline are quickly converging and, with this new business relationship, both merchants and consumers will benefit, upon integration, from the ability to use the mobile wallet anytime, anywhere.”

The integrated capabilities are expected to be available next year.

About VeriFone Systems, Inc. (www.verifone.com)

VeriFone Systems, Inc. (“VeriFone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6482806&lang=en

Contacts

VeriFone
Pete Bartolik, 508-283-4112
pete_bartolik@verifone.com

Permalink: http://www.businesswire.com/news/home/20101026005862/en/VeriFone-Extends-Mobile-Payments-Acceptance-PayPal

Tuesday, May 25, 2010

Aria Systems Introduces Aria SubscriptionsPlus for PayPal

New Service Offers Powerful but Easy Subscription Management Small- and Medium-Sized Businesses

SAN MATEO, CA--(Marketwire - May 25, 2010) - Aria Systems, Inc. (http://www.AriaSystems.com), the leading provider of on demand billing and subscription management solutions, today announced Aria SubscriptionsPlus for PayPal, a new subscription management and recurring billing product designed for PayPal's global merchant base. Aria SubscriptionsPlus for PayPal gives merchants robust, SaaS-based subscription billingcapabilities, enabling them to develop or expand their recurring revenue streams.

Subscription-based products and services are an increasingly popular way for merchants to build predictable revenue streams and long-term customer relationships. Major markets continue to embrace subscription business models, from gaming and entertainment to publishing, SaaS and cloud computing, social networking, and service providers of all sizes from multi-billion dollar global organizations to small, family-owned businesses.

Aria SubscriptionsPlus for PayPal was developed to address the needs of millions of small- and medium-sized businesses who need to manage recurring billing for subscription-based products and services, and provides the following capabilities:

Self-service online registration and account management for merchants and their subscribers

Secure payment handling using PayPal as well as credit and debit cards

Real-time activation of subscription products and services

Automated invoicing and subscriber notifications

Collections tracking with integrated dunning processes and automated service deactivation

"Most companies don't understand all the pieces that are necessary to ensure end-to-end management of subscription revenue streams," stated Jeffrey M. Kaplan, Managing Director of THINKstrategies, Inc. and Founder of the SaaS Showplace. "Aria's new program pulls these pieces together and provides businesses a cost-effective turnkey solution to address these important requirements."

"Aria SubscriptionsPlus for PayPal represents a major opportunity for merchants to create and automate recurring revenue streams," said Mike Morini, CEO at Aria Systems. "Traditional, complex, on-premise billing platforms were out of reach for small and medium-sized businesses, but now Aria SubscriptionsPlus offers the flexibility and simplicity that this market needs."

Aria SubscriptionsPlus for PayPal is currently in pilot and available for trial users atwww.paypal.com/subscriptionsplus. Merchants interested in participating in the pilot program should contact PayPal at subscriptionsplus@paypal.com

PayPal has more than 84 million active accounts in 190 markets and transacts in 24 currencies around the world, PayPal enables global ecommerce, processing more than $71 billion USD in payments in 2009.

About Aria SystemsAria Systems is the leader in on-demand billing and subscription management solutions. Since its inception in 2003 as the pioneer in SaaS billing, Aria has grown rapidly to manage millions of accounts in every country in the world and spanning a wide range of industries. The Aria Billing and Subscription Management Platform is the industry's most reliable, flexible and scalable on-demand platform for organizations looking to accelerate recurring revenue capture while significantly reducing operating costs. Aria Systems also leads the market in security and compliance as the only vendor to have achieved both SAS 70 Type II certification as well as PCI DSS Level 1 compliance for the entire billing management process. Aria's team is comprised of industry veterans that have managed multi-billion dollar billing operations supporting millions of end user subscribers. For more information about Aria Systems, visithttp://www.AriaSystems.com or call 1-877-755-2370.

Aria Systems Introduces Aria SubscriptionsPlus for PayPal

New Service Offers Powerful but Easy Subscription Management Small- and Medium-Sized Businesses

SAN MATEO, CA--(Marketwire - May 25, 2010) - Aria Systems, Inc. (http://www.AriaSystems.com), the leading provider of on demand billing and subscription management solutions, today announced Aria SubscriptionsPlus for PayPal, a new subscription management and recurring billing product designed for PayPal's global merchant base. Aria SubscriptionsPlus for PayPal gives merchants robust, SaaS-based subscription billingcapabilities, enabling them to develop or expand their recurring revenue streams.

Self-service online registration and account management for merchants and their subscribers

Secure payment handling using PayPal as well as credit and debit cards

Real-time activation of subscription products and services

Automated invoicing and subscriber notifications

Collections tracking with integrated dunning processes and automated service deactivation

Monday, April 26, 2010

Alibaba Introduces PayPal on AliExpress

Alibaba.com Introduces Payment with PayPal on AliExpress

Alliance Makes It Easier for Small Businesses Around the World to Participate in Global Trade with AliExpress

April 26, 2010 05:33 PM Eastern Daylight Time

HONG KONG & SAN JOSE, Calif.--(EON: Enhanced Online News)--Alibaba.com Limited (SEHK:1688) (1688.HK), the world's leading small business e-commerce company, and PayPal today announced that PayPal will be offered on the AliExpress platform (www.aliexpress.com). In beta since September 10, 2009, and officially launched yesterday, AliExpress allows customers to tailor orders to the needs of their small businesses, offering smaller-quantity orders, instant online transactions, and an escrow service to protect buyers and sellers.

“At PayPal, we share Alibaba.com’s commitment of giving small businesses every tool they need to succeed, including the ability to conduct fast and safe online payments. For this reason, we couldn’t be more excited to be working with AliExpress.”

With this agreement, AliExpress merchants can now avail their customers with PayPal as a fast and secure payment option. Businesses will now be able to easily source goods through AliExpress using PayPal in their preferred local currency. PayPal is one of the leading online payment platforms in the world with more than 84 million active accounts and more than 8 million merchants in 190 markets and 24 currencies around the world.

The alliance will provide customers around the world with the convenience and protections that PayPal has built over its 12-year history, in addition to the escrow service offered on the AliExpress site.

“AliExpress is designed to help even the smallest businesses to be more competitive because they can offer customers more unique products, at better prices through the benefits to global trade,” said David Wei, CEO of Alibaba.com. “Our work with companies such as PayPal is crucial, because we want to make sure we are meeting the needs of our customers by making payment as fast, safe and easy as possible.”

“With millions of customers using PayPal in 190 global markets, when you offer PayPal, you open your business to the world," said Scott Thompson, president of PayPal. "At PayPal, we share Alibaba.com’s commitment of giving small businesses every tool they need to succeed, including the ability to conduct fast and safe online payments. For this reason, we couldn’t be more excited to be working with AliExpress.”

Alibaba.com launched a beta test of AliExpress in September 2009. Currently, there are more than three million listed products from more than 40 categories.

About Alibaba.com

Alibaba.com is the global leader in e-commerce for small businesses and the flagship company of Alibaba Group. Founded in 1999, Alibaba.com makes it easy for millions of buyers and suppliers around the world to do business online through three marketplaces: a global trade marketplace (www.alibaba.com) for importers and exporters, a Chinese marketplace (www.1688.com) for domestic trade in China, and, through an associated company, a Japanese marketplace (www.alibaba.co.jp) facilitating trade to and from Japan. Together, its marketplaces form a community of more than 47 million registered users from more than 240 countries and regions. Alibaba.com also offers business management software and Internet infrastructure services targeting small businesses across China and, through Ali-Institute, incubates e-commerce talent for Chinese small businesses. Founded in Hangzhou, China, Alibaba.com has offices in more than 60 cities across Greater China, Japan, Korea, Europe and the United States.

About PayPal

PayPal is the faster, safer way to pay and get paid online. The service allows members to send money without sharing financial information, with the flexibility to pay using their account balances, bank accounts, credit cards or promotional financing. With more than 84 million active accounts in 190 markets and 24 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company and is made up of three leading online payment services: the PayPal global payment service, the Payflow Gateway and Bill Me Later. The company's open payment platform, PayPal X, allows developers to build innovative payment applications on multiple platforms and devices. More information about the company can be found at https://www.paypal.com.

PayPal is headquartered in San Jose, California and its international headquarters is located in Singapore.

Contacts

Alibaba.com

Linda Kozlowski, +852 2215 5210 (Media Inquiries)

lkozlowski@hk.alibaba-inc.com

or

PayPal

Anuj Nayar, +1-408-967-5730 (Media Inquiries)

anayar@paypal.com

Permalink: http://eon.businesswire.com/news/eon/20100426007024/en

Alibaba Introduces PayPal on AliExpress

Alibaba.com Introduces Payment with PayPal on AliExpress

Alliance Makes It Easier for Small Businesses Around the World to Participate in Global Trade with AliExpress

April 26, 2010 05:33 PM Eastern Daylight Time

“At PayPal, we share Alibaba.com’s commitment of giving small businesses every tool they need to succeed, including the ability to conduct fast and safe online payments. For this reason, we couldn’t be more excited to be working with AliExpress.”

Alibaba.com launched a beta test of AliExpress in September 2009. Currently, there are more than three million listed products from more than 40 categories.

About Alibaba.com

About PayPal

PayPal is headquartered in San Jose, California and its international headquarters is located in Singapore.

Contacts

Alibaba.com

Linda Kozlowski, +852 2215 5210 (Media Inquiries)

lkozlowski@hk.alibaba-inc.com

or

PayPal

Anuj Nayar, +1-408-967-5730 (Media Inquiries)

anayar@paypal.com

Permalink: http://eon.businesswire.com/news/eon/20100426007024/en

Thursday, April 22, 2010

Canadians to See Dramatic Shift in Credit Card Offerings

Deloitte: Consumers and issuers to benefit from new industry trends

TORONTO, ONTARIO--(Marketwire - April 22, 2010) - In the wake of record industry losses, consumer bankruptcies and the recently announced voluntary Code of Conduct for the Credit and Debit Card Industry in Canada, the credit card industry has been transformed from one of the most profitable areas of lending to one of the least. According to a new Deloitte report,Charting a new course for the credit card industry, two things are clear: issuer strategies need to change and, in many cases, consumers will benefit.

"The industry is at a turning point and forward-looking issuers will use new market dynamics as an opportunity to innovate, introduce new products, and improve relationships with consumers and merchants. This will bring about a new generation of card and payment services — many of which will directly benefit Canadian consumers," explains Pat Daley, Leader of Deloitte Canada's Payments Practice.

"In response to existing and emerging market forces, credit card issuers are considering a number of options, from redefining their business and operating models to exiting the business altogether," says Daley. The credit card industry has been caught in a perfect storm: record net losses driven by increased debt and rising consumer bankruptcies have occurred at a time of increased government regulation.

"Some companies have set up project management offices to execute a number of quick changes to products, pricing and lines of credit, while others are taking a longer-term approach, revising business, governance and operating models to reflect the needs of today's new marketplace."

Trends emerging within the Canadian credit card industry

As forces such as the growth of Internet commerce transform the industry, Deloitte suggests that the concept of a credit card and the form it might take are likely to change significantly over time and assume both a physical and virtual dimension.

According to Deloitte, there are eight emerging changes to the payments landscape:

Credit cards and bank accounts will start to merge – Combining credit cards with other banking relationships could make credit cards more relevant to a new generation of thriftier consumers. Credit card issuers could provide deposit services by allowing consumers the opportunity to prepay their credit cards and/or receive interest or more favourable credit terms. Issuers might also consider offering deposit services, where the balance could support existing borrowings, justifying lower interest rates or higher credit limits based on the demonstration of the borrower's liquidity.

Social networking sites and PDAs will be used as payment platforms – Canada will begin to see the deployment of online payment services to Generation Y or Generation X consumers through personal digital assistants (PDAs) and social networking sites. These sites provide functionality for consumers to make online purchases through various mechanisms such as the introduction of a virtual currency (purchased via debit/credit transactions)—mechanisms which will continue to see widespread consumer adoption. Also, "e-wallets" such as PayPal may extend their online dominance by developing micropayments solutions for platforms like Facebook, and replace local payment systems such as Interac.

Mobile phones will be used as payment devices – Electronic payment forms such as mobile phones are already beginning to replace traditional card-based payments in some parts of the world, such as Europe and Japan—especially for person to person transfers, point of sale, and m-commerce transactions. Convenience for consumers will drive the adoption of mobile payments using near field communications. Consumers concerned about providing credit card details over the Internet for m-commerce are likely to prefer the mobile e-purse form of payment

Loyalty programs will increase significantly between card issuers and retailers –Many Canadians choose credit cards based on rewards. Consumers will see issuers start to proactively partner with retailers to make relevant offers that are more attractive to existing and potential consumers. This is a popular approach in the UK where some issuers create targeted offers jointly with merchants, market the rewards electronically, and automate redemption.

There will be a rise in the use of prepaid cards for recurring payments – The pay ahead payment concept of prepaid cards (as opposed to the pay later concept of credit cards) is on the rise as a way to distribute rewards or benefits to particular classes of consumers, and especially as a way of delivering government payments to individuals.

Credit card holders will see an increase in security features that prevent fraud – The implementation of security features such as chip-based credit cards (that require PIN authentication) will become widespread and will help minimize fraud. These security measures are in part due to the significant increase in credit and payment card fraud over the last few years. Further security mechanisms will be layered on top of chips to continue to prevent fraud over time.

Consumers will be educated on responsible debt management – Credit card issuers will be introducing a number of innovations in their approach to client relationships to help champion consumer concerns with the goal of establishing lasting consumer confidence, trust, and loyalty. This will include new approaches to educating consumers on responsible debt management.

Some credit cards will be cancelled, but there will be new ones to choose from – Given the significant challenges and future uncertainties facing the credit card industry, some issuers will exit the credit card business entirely, while others will choose to remain in the credit card business, but retrench by eliminating product lines and redefining operating models. However, there will also be new entrants in this market, particularly well-known retailers and e-wallet providers.

For a more detailed discussion of the top issues emerging in the credit card industry and the full report, Charting a new course for the credit card industry, go to http://www.deloitte.com/view/en_CA/ca/industries/financialservices/2e7c8e9ef6f37210VgnVCM100000ba42f00aRCRD.htm.

About Deloitte

Deloitte, one of Canada's leading professional services firms, provides audit, tax, consulting, and financial advisory services through more than 7,700 people in 58 offices. Deloitte operates in Québec as Samson Bélair/Deloitte & Touche s.e.n.c.r.l. Deloitte & Touche LLP, an Ontario Limited Liability Partnership, is the Canadian member firm of Deloitte Touche Tohmatsu.

Deloitte refers to one or more of Deloitte Touche Tohmatsu, a Swiss Verein, and its network of member firms, each of which is a legally separate and independent entity. Please seewww.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu and its member firms.

Canadians to See Dramatic Shift in Credit Card Offerings

Deloitte: Consumers and issuers to benefit from new industry trends

Trends emerging within the Canadian credit card industry

According to Deloitte, there are eight emerging changes to the payments landscape:

Credit cards and bank accounts will start to merge – Combining credit cards with other banking relationships could make credit cards more relevant to a new generation of thriftier consumers. Credit card issuers could provide deposit services by allowing consumers the opportunity to prepay their credit cards and/or receive interest or more favourable credit terms. Issuers might also consider offering deposit services, where the balance could support existing borrowings, justifying lower interest rates or higher credit limits based on the demonstration of the borrower's liquidity.

Social networking sites and PDAs will be used as payment platforms – Canada will begin to see the deployment of online payment services to Generation Y or Generation X consumers through personal digital assistants (PDAs) and social networking sites. These sites provide functionality for consumers to make online purchases through various mechanisms such as the introduction of a virtual currency (purchased via debit/credit transactions)—mechanisms which will continue to see widespread consumer adoption. Also, "e-wallets" such as PayPal may extend their online dominance by developing micropayments solutions for platforms like Facebook, and replace local payment systems such as Interac.

Mobile phones will be used as payment devices – Electronic payment forms such as mobile phones are already beginning to replace traditional card-based payments in some parts of the world, such as Europe and Japan—especially for person to person transfers, point of sale, and m-commerce transactions. Convenience for consumers will drive the adoption of mobile payments using near field communications. Consumers concerned about providing credit card details over the Internet for m-commerce are likely to prefer the mobile e-purse form of payment

Loyalty programs will increase significantly between card issuers and retailers –Many Canadians choose credit cards based on rewards. Consumers will see issuers start to proactively partner with retailers to make relevant offers that are more attractive to existing and potential consumers. This is a popular approach in the UK where some issuers create targeted offers jointly with merchants, market the rewards electronically, and automate redemption.

There will be a rise in the use of prepaid cards for recurring payments – The pay ahead payment concept of prepaid cards (as opposed to the pay later concept of credit cards) is on the rise as a way to distribute rewards or benefits to particular classes of consumers, and especially as a way of delivering government payments to individuals.

Credit card holders will see an increase in security features that prevent fraud – The implementation of security features such as chip-based credit cards (that require PIN authentication) will become widespread and will help minimize fraud. These security measures are in part due to the significant increase in credit and payment card fraud over the last few years. Further security mechanisms will be layered on top of chips to continue to prevent fraud over time.

Consumers will be educated on responsible debt management – Credit card issuers will be introducing a number of innovations in their approach to client relationships to help champion consumer concerns with the goal of establishing lasting consumer confidence, trust, and loyalty. This will include new approaches to educating consumers on responsible debt management.

Some credit cards will be cancelled, but there will be new ones to choose from – Given the significant challenges and future uncertainties facing the credit card industry, some issuers will exit the credit card business entirely, while others will choose to remain in the credit card business, but retrench by eliminating product lines and redefining operating models. However, there will also be new entrants in this market, particularly well-known retailers and e-wallet providers.

About Deloitte

Friday, May 27, 2011

Related articles

Tuesday, October 26, 2010

Traditional Card Payments to Integrate with PayPal Mobile Payments

Contacts

Tuesday, May 25, 2010

Monday, April 26, 2010

Alibaba.com Introduces Payment with PayPal on AliExpress

Contacts

Alibaba.com Introduces Payment with PayPal on AliExpress

Contacts

Thursday, April 22, 2010

Deloitte: Consumers and issuers to benefit from new industry trends

Deloitte: Consumers and issuers to benefit from new industry trends

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