PayPal to announce Facebook integration in two weeks (rumor)

PayPal to announce Facebook integration in two weeks (rumor)

Summary: At eBay's X.commerce Innovate conference, PayPal and Facebook are going to announce something bigger than they've ever done before, a new rumor suggests.

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Technical evangelist Robert Scoble revealed that eBay's PayPal is launching something big with Facebook in two weeks. At the Smash Summit, he said it will be bigger than anything PayPal and Facebook have done together so far, according to TechCrunch.

eBay's X.commerce Innovate conference is taking place on October 12 and October 13. Here's an official description of the X.Commerce platform:

The X.commerce platform leverages the collective power of eBay Marketplaces, PayPal, GSI Commerce, and Magento* so merchants can thrive in the commerce ecosystem. Technology and services are accessed through a simple cloud-based model; this helps merchants grow, along with the developers, systems integrators, agencies, consultants and service providers who make it happen.

There is quite a bit of potential for PayPal here given how much money is flowing through the Facebook platform. So far, Facebook supports PayPal's micropayments product and allows developers to use PayPal to purchase Facebook Credits.

It's not clear what exactly eBay and Facebook will announce, but it will likely be an attempt to make commerce more social. One possibility is that PayPal will try to offer deeper Facebook integration with its deals.

Facebook and PayPal are already pretty good pals. Earlier this year, PayPal co-founder Max Levchin said Facebook could become the "most valuable company in the world." Few people know this, but in June 2004, Facebook received its first investment from PayPal co-founder Peter Thiel.

Given PayPal's plans to push the virtual wallet, and Facebook's desire to give Credits a boost, I wonder if the two will one day partner around the Near Field Communication (NFC) technology. For those who don't know, NFC allows for simplified transactions, data exchange, and wireless connections between two devices in close proximity to each other. It's has the potential to be huge for mobile payments, once it is supported by enough retailers and smartphones.

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Topic: Social Enterprise

Emil Protalinski

About Emil Protalinski

Emil is a freelance journalist writing for CNET and ZDNet. Over the years,
he has covered the tech industry for multiple publications, including Ars
Technica, Neowin, and TechSpot.

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  • RE: PayPal to announce Facebook integration in two weeks (rumor)

    It's a Trap!
    Bates_
  • RE: PayPal to announce Facebook integration in two weeks (rumor)

    PayPal???s Scott Thompson is simply delusional if he thinks that PreyPal can ever be even a minor threat to the existing banks/Visa/MasterCard payments systems at traditional Point-of-Sale: the idea is pure science fiction. (Beam me up Scotty!)

    The real question is, when is the US "banking" regulator(s) going to finally do something about over-sighting this most unprofessional, unregulated, clunky ???financial??? operator that acts like a bank but is actually no more than an unethical money gouging arm of the Ho???s ???eBafia????

    Even though PayPal clearly offers banking-type services (ie, holding depositors??? money in non-prudentially regulated and non-FDIC insured banking-type accounts), PayPal is mostly only registered in some places not as a ???bank??? nor as a provider of credit but only as a ???money transmitter??? (like Western Union), and indeed PayPal has disingenuously claimed that they are not even a ???payment network???, and there is a minute degree of truth in that claim because it could be put that most (but not all) of their activities do no more than facilitate the transmission of money by riding on the back of the banks??? existing payments processing systems.

    In fact, the only thing creative about PreyPal has been their founding use of unique email addresses as an identifier for online payment transactions. PreyPal is otherwise no more than a blood-sucking parasite riding on the back of, and in the main cannot function except via, the banks??? existing payments processing systems.

    PreyPal, outside of its mandated use on whatever will ultimately be left of the Donahoe-devastated eBay Marketplace, will undoubtedly be consigned to the history books by the retail banks/Visa/Mastercard once those players get their ???online??? act together. There is nothing surer than the sun will rise in the morning.

    All anyone needs to know about the clunky PayPal, at:

    http://forums.auctionbytes.com/vbulletin/showthread.php?t=24148

    Enron / eBay / PayPal / Donahoe: Dead Men Walking.
    Philip Cohen