Unsure that market forces alone can do the job, PayPal is betting Singapore's government can spur the development and adoption of mobile e-commerce applications in the Southeast Asian city-state.
Using MasterCard's MoneySend application, iPhone and iPad users will be able to send or receive money using their phone or tablet, the card company said on Thursday.
MasterCard is launching a program for external developers interested in tapping into some of the credit card giant's internal payment and data services to create applications.
Heartland Payment Systems has made a third settlement deal, this time with MasterCard, related to a massive data breach two years ago at the card payments processor.
PayPal said that India's central bank, the Reserve Bank of India (RBI), has allowed it to resume Indian bank withdrawals for Indian businesses who use PayPal to sell their goods or services abroad.
PayPal said a ban on personal transactions to and from India will continue for "at least a few months" while the online payment service tries to resolve a problem with local regulators.
PayPal, an eBay company, has suspended personal payments to and from India and transfers to local banks in the country.
Responding to its widely reported and massive data breach that took place a year ago, Heartland Payment Systems will be moving to an end-to-end encryption system for payment transactions, according to Chairman and CEO Robert Carr.
Social networking site Friendster accepted a buyout offer from Malaysia's MOL Global, which hopes to generate revenue from the site using micropayments.
Money transfers and payments over mobile phones will be among the top 10 most important mobile applications by 2012, market research company Gartner said on Wednesday.
Amazon Payments has introduced a new way to pay at Amazon.com and a number of other web retailers. The service is called PayPhrase and lets users enter a phase and personal identification number to speed up the checkout process, it said on Thursday.
Google is promoting a payments system to the newspaper industry that would let Web surfers pay a small amount for individual news stories, an idea that could help publishers struggling with the impact of the Internet.
The operator of several companies that allegedly processed more than US$350 million in illegal Internet gambling payments has been indicted on bank fraud and other offenses, the U.S. Department of Justice announced Thursday.
People can create an online store in "a matter of minutes" with a new gadget application that uses Google's Checkout electronic payment service and its Docs spreadsheet application, Google announced Friday.
PayPal will soon open up its platform to third-party developers, allowing them to build applications with a range of money transfer options.
