PayPal

Here's another one of Facebook's gradual moves into the e-commerce world: The company announced Thursday a "strategic relationship" with eBay-owned payment system PayPal to make its technology available for the purchase of self-service ads as well as the Facebook Credits currency.

"We want to give the people who use Facebook, as well as advertisers and developers, a fast and trusted way to pay across our service," Dan Levy, director of payment operations at Facebook, said in a release. "As our business has grown, offering local methods of payment has become increasingly important for … Read more

PayPal's recent service suspension in India, which involves local bank transfers and personal payments to and from the country, was the result of India's revised licensing rules, the company said Tuesday.

In a blog post, Anuj Nayar, director of global communications at PayPal, explained that the incident in India was a response to inquiries that local regulators posed, specifically, on whether personal payments constitute "remittances" into India.

According to Nayar, who also posted a comment on ZDNet Asia's report on the issue, personal payments to and from India will be suspended for at least a … Read more

PayPal, the online payment processor, has put some of its services in India on hold temporarily and is reversing funds requested through PayPal India, according to reports.

Anjul Nayar, a PayPal representative, said Saturday in a blog post that "personal payments to and from India and transfers to local banks in India have been suspended" as the company works with business partners and stakeholders "to address questions they have about the service".

Nayar wrote that customers can still make commercial payments to India, but merchants will not be able to "withdraw funds in rupees to … Read more

eBay beat Wall Street's expectations, reporting a net income of $585 million, or 44 cents per share, for the fourth quarter, a 9 percent jump over the same quarter a year ago. Revenue for the quarter was $2.4 billion, up 16 percent increase from a year ago. Analysts had expected earnings of 40 cents per share on sales of $2.29 billion. (Statement - PDF)

For the full year, eBay reported net income of $2.1 billion, or $1.58 per share, on sales of $8.7 billion. Analysts had been expecting an eps of $1.54 on … Read more

PayPal is preparing to launch a new payment system that simplifies the process of buying products from within an online application, The Wall Street Journal is reporting.

According to the report, the new service will be called PayPal X. It will allow users to sign in to their PayPal accounts and purchase products from within a respective application.

The service, which has reportedly been in limited testing, is eBay's best hope for capitalizing on the burgeoning in-app payment market, which has witnessed Facebook emerge as one of PayPal's strongest competitors.

According to The Wall Street Journal, Facebook's … Read more

PayPal on Tuesday is introducing a new service for parents with kids who are in high school or college. Called Student Accounts, it centers on the use of a special PayPal-branded Mastercard debit card that's tied to a parent's PayPal accounts. The parent acts as the provider and can funnel money in whenever they feel like it at predetermined dates, or--at what will most-frequently happen--the behest of their kids.

Some of the perks include no overdraft fees and the use of a debit card that's not tied to a particular bank account, meaning the balance can come … Read more

We get Stephen Shankland on the phone to talk about PayPal's big outage Monday that cost the company millions in lost or delayed transactions. We also talk about new features coming to Google's Chrome browser, the next generation of memory cards, and WiMax coming to more U.S. cities.

Today's stories:

PayPal suffers from e-commerce outage

Clearwire to bring WiMax to 10 more markets

Twitter warms up malware filter

Toshiba plans 64GB SDXC memory cards for 2010

Denial-of-service attack downed Gawker Media

Report: Apple tried to silence family over exploding iPod

Military to get priority Google Voice accounts… Read more

PayPal suffered a global outage and slow performance Monday, but eBay said its online payment system is mostly back in working order.

"About an hour ago, PayPal started experiencing site issues that affected the ability to send and receive money. We have all hands on deck to get this fixed," said PayPal spokesman Anuj Nayar in a blog post about noon PDT. "We're really sorry for the inconvenience."

An update at 12:40 p.m. said the site was working again for most users.

Nayar said in an interview the outage was global and the … Read more

PASADENA, Calif.--PayPal is just over a third of eBay's revenue at the moment, but the online payment service will ultimately be bigger than the company's flagship e-commerce site, its chief executive said Thursday.

"PayPal is a business that will be bigger than eBay," CEO John Donahoe said in a talk at the Fortune Brainstorm: Tech conference here. However, he said that shift will take four to six years.

Donahoe's comments came just as the company announced that it is opening up its PayPal platform to third-party developers. "There is this opportunity for an … Read more