VeriFone® Teams up with PayPal for Mobile Payments

SAN FRANCISCO–(BUSINESS WIRE)–INNOVATE 2010 — At its second annual developer conference today, PayPal announced new mobile technologies and business relationships that will change the way people will shop and pay.

PayPal is a leader in mobile payments. The company offers mobile apps for iPhone®, Android® and Blackberry®, as well as tools to help developers and merchants build mobile-commerce solutions. PayPal expects more than $700 million in mobile payments to go through its system by the end of 2010.

“Mobile commerce is the most significant change in retailing in the last century, and shopping will never be the same,” said Osama Bedier, PayPal’s vice president of platform, mobile and new ventures. “PayPal is aggressively driving this change by redefining checkout on mobile devices for millions of consumers and businesses across the world.”

Mobile Express Checkout

PayPal announced the availability of Mobile Express Checkout, a secure two-click checkout experience on a mobile device. Consumers will have the ability to opt-in and remain logged in across apps to make purchasing even faster. The solution is easy to deploy for any merchants who already have Express Checkout on their online stores. Beta merchants have reported double-digit sales growth on their mobile stores after adding Mobile Express Checkout.

Starbucks will use Mobile Express Checkout for quick and easy reload of Starbucks Cards directly from its Starbucks Card Mobile app for iPhone and iPod touch®.

Beta merchants have reported double-digit sales growth on their mobile stores after adding Mobile Express Checkout. PayPal also announced that guest payments, the ability to accept credit card payments in addition to PayPal, will be integrated into Mobile Express Checkout in the first quarter of next year.

Mobile Payments Library

PayPal is adding key functionality to the Mobile Payments Library by supporting preapproved, chain and split payments. Developers can now use preapproved payments for subscription-based business models and use split and chained payments to take a cut of transactions between buyers and sellers. As with Mobile Express Checkout, consumers can opt-in and remain logged in across apps to make purchasing even faster.

PayPal Mobile for iPhone® 3.0

A new location-based feature allows PayPal iPhone app users to find businesses accepting PayPal wherever they happen to be. Merchants can attract nearby customers to their stores by sending deals and promotions to customers’ phones, and customers can pay for goods or services at local outlets with PayPal or a BlingTag® from Bling Nation. This new local service is initially available in beta in the San Francisco Bay Area. Interested merchants or service providers can sign up at www.paypal-labs.com/local.

VeriFone®

VeriFone is joining the PayPal developer ecosystem and will be the first device manufacturer to collaborate with PayPal to offer merchants the ability to take credit card and PayPal payments anywhere using its PAYWare mobile merchant app. The new service will also let customers “bump to pay” using functionality from Bump Technologies built into the PayPal app and the PAYWare app. This will allow the millions of PayPal merchants who have both an online and offline presence to accept payments wherever they happen to be.

Appcelerator®

PayPal has teamed up with Appcelerator, the leading platform for mobile, desktop and iPad™ applications, to make it easy for PayPal’s 8 million merchants to create mobile commerce apps. Appcelerator allows merchants to build apps on all three major mobile platforms (iOS, Android™ and BlackBerry®) from one Web code base. PayPal and Appcelerator expect to launch the joint mobile commerce offering in 2011.