Innovate 2009

Today Payvment launched an e-commerce application that allows anyone to easily create a retail store on Facebook. By harnessing the power of the PayPal X global open payments platform, customers will now be able to shop from multiple vendors in a single shopping cart, turning Facebook into an online shopping mall.

The new application uses PayPal’s new Adaptive Payments APIs and is built on the company’s existing shopping cart Web service that turns any online page into an e-commerce page with a single line of code.

“One of the big innovations made possible by Adaptive Payments is our ability to let users search and purchase from multiple storefronts throughout Facebook — then pay for everything with a single checkout using PayPal,” said Christian Taylor, Payvment founder and CEO.

“Payvment’s work is a great example of how third-party developers can use PayPal X to create a new generation of payment options,” said Osama Bedier, PayPal’s vice president of platform. “Facebook’s 300 million users will now be able to go shopping on Facebook. PayPal takes care of the payments and Payvment the shopping cart experience.”

Part of the PayPal X platform, the Adaptive Payments API is a set of building blocks that gives developers the tools to create highly customized payment services. The API will change where and how people can make payments, how recipients get compensated, and more.

About Payvment

Payvment powers online shopping carts, allowing online merchants of any size to place shopping carts on Web sites, social networks and blogs. By providing the backend technology, merchants can use Payvment’s offering without installing software or requiring technological expertise. For consumers, Payvment’s unique platform enables users to add items to their shopping cart from one place and checkout those items even if they were no longer on the site. For more information, visit www.payvment.com.