Posts Tagged ‘PayPal’
Facebook Ties up With PayPal to Collect Ad Revenue
Facebook and PayPal Thursday announced a tie-up to use PayPal as the way to pay for Facebook’s advertising and developer systems.
Facebook has currently over 400 million users worldwide, including 120 million in the US alone. Owned by eBay, PayPal is the online mode to pay for e-commerce transactions worldwide. It has 81 million accounts in 24 currencies around the world.
Under the tie-up, advertisers around the world will be able to use PayPal to pay for Facebook advertisements, PayPal said in a press release.
For businesses in areas where the payment process can be difficult and expensive, PayPal said its services will make it easier for advertisers to run campaigns on Facebook.
PayPal can also be used for the newly started Facebook Credits which aims to give (Facebook) users a fast and easy way
to buy virtual goods on Facebook, including items from the Facebook Gift Shop, the statement said.
“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,” the statement quoted Dan Levy, director of payment operations at Facebook.
“As our business has grown, offering local methods of payment has become increasingly important for advertisers who
want to buy Facebook Ads. Teaming with PayPal, a global leader in online payments, makes this possible,” he said.
Osama Bedier, PayPal vice president (emerging technologies), added, “Put simply, PayPal’s business is payments. We make
it easier for customers to send and receive money online in 24 currencies and 190 markets around the world.
Google Hires eBay Veteran for New Commerce Position
Google said Tuesday that Stephanie Tilenius was joining the company as vice president of commerce, a new position.
Google said little about the role of Ms. Tilenius, a veteran eBay executive who announced in late September that she would leave that company. People close to Google said Ms. Tilenius would oversee Google Checkout, the company’s online payments system, and other e-commerce efforts. Her hiring suggests a push by Google into online commerce, though it is not clear exactly what Google’s plans are.
If Google makes inroads into e-commerce, it could cause headaches for a number of online retailers, as many of them get a majority of their traffic from Google, both through Web search and search ads. EBay, for example, relies on Google for much of its traffic and is one of the biggest advertisers on Google. The two companies’ relationship has already had its rocky moments, as Google positioned Checkout as a rival to PayPal, eBay’s online payment service.
Ms. Tilenius held a variety of executive roles at eBay since arriving there in 2001. Most recently, she ran eBay North America and global product management for eBay Marketplaces. Earlier, she headed PayPal’s merchant services business and ran eBay Motors and eBay Asia Pacific and Latin America. She was a co-founder of PlanetRx.com, an early e-commerce company.
EBay announced the departure of Ms. Tilenius as part of a reorganization in September, saying she would leave the company by early this year.
PayPal to Stay Offline in India – Updates to Resume Indian Bank Transfer through PayPal
Online payment services provider PayPal today said it would take a few months to restore its India services, which was suspended last week.
In a blog, PayPal spokesperson Anuj Nayar said the service was temporarily suspended to respond to queries of Indian regulators, specifically questions whether personal payments constituted remittances into India.
“We are working with the regulators and our bank-processing partners in India to get this resolved as quickly as we can. We realise that this is causing considerable inconvenience to our customers and I want to reassure you that this is a top priority for the leadership at PayPal,” Nayar said.
The company said it “was actively engaged” in trying to secure a fresh licence after being informed recently about a change in rules. Nayar said personal payments to and from India would be suspended for at least a few months until PayPal had fully resolved the questions from the Indian regulators. PayPal said customers should be able to withdraw their funds from a local bank within the next few days.
“We’re going to restore the money into the PayPal account of any customer in India who has initiated (tried to) a recent withdrawal, so they know that the money is safe in their accounts. Customers will also be reimbursed for any withdrawal fee charges,” he said.
1 March 2010, Monday
PayPal has received the green light from the Reserve Bank of India to resume bank withdrawals for settlements involving exports of goods and services, but personal payments remains suspended.
In a blog post Friday, Farhad Irani, head of PayPal Asia-Pacific wrote that RBI has allowed PayPal to resume bank withdrawals for the exports of goods and services. The company is now making changes to comply with Indian regulations and “anticipates” it will be able to resume bank withdrawal service for settlements effective March 3.
However, personal payments remain suspended as PayPal still needs specific government approval to allow personal-inward remittances to India.
The e-payment services provider last month halted its services in the country as a result of India’s revised licensing laws.
4 March 2010, Thursday
PayPal suspended Indian bank transfer for the while to make necessary changes to their system. They will resume their services soon. Following is the message appears in PayPal account when we try to withdraw funds:
We are making some changes to our product in compliance with India regulations for settlements for exports of goods and / or services. During this time, we have temporarily suspended the ability to withdraw money to your bank account. We hope to resume settlements to enable you to withdraw funds to your local bank account without delays.
As part of the changes, you will also be required to fill out a new field entitled ‘Export Code’ when you request a withdrawal. This information is required in order to identify the nature of cross-border merchant transactions.
Our sincere apologies for the inconvenience you must be facing. Please be assured that we are working to resolve this as quickly as possible and we will make sure to keep you updated.
We hope, PayPal would fix their system and add a new “Export Code” field soon so that people in India can again use the services of PayPal to withdraw their funds to their Indian bank account.
Paypal Suspends Payment Transactions in India
Online payment service provider Paypal on Saturday said that it has suspended certain types of payment transaction in India.
In a blog posted on its website, PayPal spokesperson Anuj Nayar wrote “… personal payments to and from India and transfers to local banks in India have been suspended while we work with our business partners and other stakeholders to address questions they have about the service”.
Without giving any further details for the unusual suspension, he added that the company is working “to resolve the situation as quickly as possible.”
“During this time, customers can still make commercial payments to India but merchants cannot withdraw funds in rupees to local Indian banks,” he said.
MYOB to Launch SaaS Accounts Product
MYOB, the company which makes the accounting software installed in over 70 per cent of small-to-medium-sized businesses in Australia, has taken a step into the cloud with the announcement today of a software-as-a-service (SaaS) product called LiveAccounts.
“MYOB LiveAccounts will offer a simple, inexpensive and hassle-free way to do the accounts. Businesses can raise invoices, track expenses, monitor bank accounts, manage GST and keep in touch with every aspect of their business through real-time reports,” MYOB chief executive officer Tim Reed said.
LiveAccounts is currently in beta testing with around 100 clients, and is expected to be launched in the next few months. The monthly fee for the LiveAccounts has yet to be determined but was estimated to be around $35 per month. The hosting arm of Macquarie Telecom will house the new service in its datacentres.
More than 100 Australian banking institutions — including Westpac, PayPal and BPay ‐ have signed up to be a part of LiveAccounts and will provide daily updates of transaction information to the service. MYOB spokesperson Dominic O’Hanlon said today that because MYOB held a banking licence, the service will be as safe as a bank.
The announcement has come after MYOB had hinted at such a service back in March this year, when the company advertised for an infrastructure technical lead for SaaS.
Although it has made the move towards the online world, MYOB will continue to offer desktop products.
A MYOB survey of over 850 Australian businesses revealed that while Australian business owners are looking for online tools and functionality, they still prefer to run their business from their own desktop.
The research revealed that the majority of Australian businesses would prefer to have both desktop software and online services for business account management, while only 22 per cent of businesses found a single online solution “appealing”. “Most businesses tell us they don’t want to use purely online solutions,” Reed said.
LiveAccounts is aimed at the 22 per cent interested in the pure online solution, according to Reed. MYOB has committed to investing $70 million over the next three years for internet-based solutions.