By Danielle Kucera - Oct 12, 2011 4:41 AM GMT+0700
EBay Inc. (EBAY)’s PayPal unit, trying to lure developers, merchants and consumers to its payment system, will unveil a service that lets people use their accounts in different Web stores without having to register at each one.
The new feature, called PayPal Access, will be announced tomorrow at a San Francisco conference focused on EBay’s new X.commerce platform, an arm of the business aimed at developers and merchants, said Anuj Nayar, an X.commerce spokesman.
EBay Chief Executive Officer John Donahoe is trying to ward off rival payment systems and get more consumers to use PayPal as a substitute for credit cards. The company is counting on the X.commerce technology to attract e-commerce sites and shoppers to PayPal by making buying and selling easier online.
“You can create an account wherever you’re shopping without giving the merchant your information,” Nayar said in an interview. By relying on PayPal developers to handle the innovation, Web retailers can make their sites easier and more functional without doing it themselves, he said. “These retailers don’t have the time and resources necessary to figure it all out.”
PayPal Access would need cooperation from retail partners, something it doesn’t yet have, he said.
EBay shares rose 53 cents, or 1.6 percent, to $32.83 today. The company’s stock has gained 18 percent this year.
This week’s conference is aimed at the almost 800,000 developers who design software for EBay and PayPal, as well as Magento, an e-commerce platform that helps merchants manage payments, inventory and customer relationships online. PayPal announced an application store for that system today called Magento Connect, letting programmers create and sell software. EBay acquired the Magento business earlier this year.
PayPal also will update its RedLaser application, a company EBay acquired in June 2010 that allows mobile users to scan bar codes. The newest version will let consumers pay for products they scan over their phones, Nayar said.
To contact the reporter on this story: Danielle Kucera in San Francisco at dkucera6@bloomberg.net
To contact the editor responsible for this story: Tom Giles at tgiles5@bloomberg.net
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