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PayPal opens up for digital goods
Category : General 28 Oct 2010 10:49 AM | Insider News
PayPal has extended its payment service into the digital goods space. The company said that it would be partnering with a number of sites to open up the service for online micropayments. PayPal suggested that the service could be of particular use for one-time transactions such as digital publications or in-game item purchases.
Among the first companies to adopt the service will be social networking giant Facebook. The company said that it would be using the PayPal service to handle payments on the site.
Earlier this year Facebook announced a plan to use PayPal for its advertising and in-site payment processing service. Other sites and publishers who plan on adopting the service include FT.com, O'Reilly Media, Ustream and GigaOM. "The decision to purchase digital goods and content usually happens on impulse, so the act of paying needs to be as quick as that impulse," said PayPal vice president of global strategy Sam Shrauger. "PayPal for digital goods is an ideal solution for game developers, newspapers, bloggers, media companies, and anyone who is looking to monetize premium digital content around the globe."