PayPal

Reports have "Wall Street Gossips" talking about Apple working on a "PayPal killer". This would be in the form of the iTunes store turning into a payment system. There's no telling how much truth there is to these rumors, but the world is going to need some more options when PayPal goes down, as it did last night, causing quite a stir across the web. PayPal apologized for this by way of the PayPal blog. SVP, Technology Scott Guilfoyle wrote:

PayPal announced that it is opening an API to developers to allow them to embed PayPal's payment system into their own apps and platforms. The company, a subsidiary of eBay, says this is the first global payment platform to open to third-party developers.

PayPal requires reserves for a percentage of sellers. That percentage is less than 1% according to the company. PayPal likens the reserves to a security deposit to cover future chargebacks and reversals. Since PayPal began this practice, they have had a lot of questions about it from sellers, and hoping to clear up some confusion, Bill Clark, an analyst with PayPal's risk team offered the following explanation on the PayPal Blog:

PayPal has introduced an app for Google's Android today. The app gives PayPal users easy access to their accounts from Android Phones. A post at the PayPal Blog lays out the features:

Revolution Money is an online payment company owned by AOL co-founder Steve Case.

eBay is holding an annual analyst meeting on Wednesday March 11th. Highlighted at this meeting will be future plans for eBay's PayPal business.

Monroe Labouisse, the director of PayPal’s business on eBay in the US and Canada sat down with eBay's chief Blogger Richard Brewer-Hay and sketched out this post explaining the policies behind eBay Item Holds. An eBay Item Hold is when eBay asks PayPal to hold a payment in a seller's PayPal account for up to 21 days. This occurs as a "buyer protection" when eBay believes the transaction is more likely than the average transaction to be fraudulent.

MySpace has partnered with PayPal to create the MySpace IMPACT/ PayPal fundraising widget that allows users to collect donations for non-profit organizations.