PayPal Announces Adaptive Payments: Parallel Payments and Chained Payments Functionality via API

August 3, 2010

August 3, 2010

[wpseo_breadcrumb]

Categories

As most of you no doubt already know PayPal recently announced plans to open up its payment backbone to third party developers. The new platform is called Adaptive Payments and is slated to launch in November at PayPal’s Innovate 2009 Conference.  This an exciting move and one that will surely help PayPal continue its rise in the payments industry.   […]

46 Seconds to Discover Thousands of Wasted Dollars in your Business.

82% of companies find $12,000 wasted annually. How much are you losing?

nexus-feefighters-quiz-saving-money

As most of you no doubt already know PayPal recently announced plans to open up its payment backbone to third party developers. The new platform is called Adaptive Payments and is slated to launch in November at PayPal’s Innovate 2009 Conference.  This an exciting move and one that will surely help PayPal continue its rise in the payments industry.

 

What is most interesting about the Adaptive Payments platform is its ability to handle parallel payments and chained payments.

Parallel payments allow a single payment by a sender to be split amongst any number of receivers.  This comes in handy when a buyer purchases items from different sellers.  With parallel payments the buyer can set up one transaction and the monies will be distributed to all of the sellers that the buyer bought from.

Chained payments allow the sender to send one payment to a specific merchant who can then keep their share and payout the balance to various members of their supply chain.  The example Tech Crunch gives for chained payments is that of a travel agent.  In this case the buyer would simply send payment to the travel agent and the travel agent could then keep their commission and send the rest of the cash to the hotel, airline and car rental businesses that the customer really bought from.

These types of payment methods aren’t groundbreaking.  However, what is groundbreaking is the ability to plug into PayPal’s Adaptive Payments API and add these to any site quickly and easily.  Prior to Adaptive Payments parallel and chained payments functionality would have had to be built by hand in house leading to much longer product development cycles.

You can find more on PayPal’s Adaptive Payments platform at Tech Crunch and Payments Views:

We’ll continue to watch the development of Adaptive Payments right here as well so please subscribe to make sure you get the latest.

Reduce Credit Card Processing Fees

with FeeFighters

[comments-template]

Recent Posts

In today’s business world, the point of sale (POS) system has become a key part of operations for retailers. The POS system is involved in several aspects of a business, such as inventory management, funds, and managing the inflow and outflow of products and services within a store. Due to its unique position in key […]

What Is Sales Tax Compliance Outsourcing? (SALT)Ever since the South Dakota v. Wayfair court ruling that you don’t need to have a presence in a state in order to be required to collect taxes on sales there, tax law has never quite been the same. If you need to collect taxes in many states and […]

Knowing how to properly collect sales taxes in different states and jurisdictions is incredibly complicated. Different tax jurisdictions have different laws and rates, but accountants and tax lawyers are expensive. Worse yet, a tax mistake due to ignorance of sales tax law can lead to an audit or penalty that will cost your business a […]

Chargebacks are debit or credit card charges that have been disputed by customers. Sometimes these come in the form of chargeback fraud, but other times they are legitimate. When a chargeback happens, you have to deal with the acquiring bank and other entities in order to dispute it. Regardless of the reason for any given […]

© 2019 – FeeFighters, LLC – Call Us – (646) 448-8804

PO BOX 1459, MOUNTAINSIDE, NJ 07092

×