PayPal adding new services

PanARMENIAN.Net - EBay’s PayPal service is adding features that give businesses more flexibility over how they sell wares and accept payments.

According to Bloomberg Businessweek, the changes, due in the coming months, include mobile payments, barcode scanning via handheld device, store inventory lookup and offers based on a person’s location, PayPal said.

Improvements at PayPal are part of an effort by EBay Chief Executive Officer John Donahoe to accelerate growth and step up competition with Amazon.com in the e-commerce market.

PayPal’s sales grew 31% last quarter, outpacing gains at the main commerce business for San Jose, California-based EBay.

New services will let customers pay for a product with as little as a name and telephone number, Sam Shrauger, vice president of global product and experience at PayPal, said in an interview.

The new technologies will help boost PayPal’s volume of transactions in 2012 beyond the $130 billion it’s due to report this year, he said. The company had about $92 billion in payment volume in 2010.

EBay rose 74 cents to $30.14 at 4 p.m. New York time in Nasdaq Stock Market trading. It has gained 8.3 percent this year.