PayPal announced today that in late fall of this year it will be unveiling a payment solution for digital goods. Application developers and content publishers have waited a long, long time for a frictionless micro-payment option from PayPal and it's finally on its way.
Pricing for the new solution is 5 percent plus 5 cents for purchases under 12$ - lower than many other payment processors in the digital goods industry.
What's even more noteworthy is that at PayPal’s annual Innovate developer conference, Facebook Chief Operating Officer Sheryl Sandberg announced that Facebook will integrate PayPal’s new digital goods payment flow to make PayPal the way to make purchases on Facebook. Several additional companies, including Autosport.com, FT.com, GigaOM, Justin.tv, Ooyala, Plimus, Tagged, Tyler Projects and Ustream announced that they are also using PayPal to monetize the growing opportunity in digital goods.
“The decision to purchase digital goods and content usually happens on impulse, so the act of paying needs to be as quick as that impulse,” said Sam Shrauger, PayPal’s vice president of global product strategy. “PayPal for digital goods is an ideal solution for game developers, newspapers, bloggers, media companies, and anyone who is looking to monetize premium digital content around the globe.”