PayPal introduced many new features at Innovate 2010, Mobile Express Checkout, Mobile Payments Library and added locations to their iPhone app. They have formed an alliance with Appcelerator for payments with the Appcelerator platform.
PayPal launched Mobile Express Checkout, a secure, two-click payment tool enabling consumers to remain logged-in. 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.
PayPal Mobile Payments Library now supports 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.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.
PayPal expects more than $700 million in mobile payments to go through its system by the end of 2010. PayPal offers mobile apps for iPhone, Android and Blackberry, as well as tools to help developers and merchants build mobile-commerce solutions.