

In this article there is two parts that were elaborated. Firstly, introducing the new PayPal X developer platform launched by PayPal at PayPal X Conference on 3rd
November2009. Secondly and lastly, the threat and challenges made to Facebook Connect when PayPal X was launched.
On 4th November 2009, second day of the Innovate conference, Chief Technology Officer of eBay, Mark Carges mentioned that PayPal X’s goal was ” to become the medium in which financial transactions occur across the web. The eBay subsidiary hopes to do this by wooing developers into integrating PayPal into their apps.” Mark also revealed that PayPal has an interesting ambition it hopes to achieve “and that Facebook Connect was part of the inspiration.” Having said that eBay soon may be challenging Facebook’s sign-in platform. Mark further discusses and gives an example of how eBay intends to reach their goal of becoming the ” consumer identity provider “. The example he gave was that under the project that is called “PayPal ID”, users can login to identify themselves securely to e-commerce websites and website applications unlike Facebook where you can create a fake ID and act as someone else. Facebook Connect was announced on 23 July 2008 and has been made available to users since 4 December 2008. The service enables Facebook users to login to affiliated sites using their accounts and share information. According to the review, “The audience reaction was mixed – some think it makes sense, but others worried that PayPal ID would be too “closed” of a system.” But nevertheless PayPal ID would still pose a threat and a challenge to Facebook.
From what i have researched about Facebook is that Facebook is a social networking website founded on 4th February, 2004 which offers many features like for e.g. Wall, Events, Pokes, Networks and groups and more. According to online sources, Facebook has currently more than 300 million active users worldwide and is the most popular social networking sites in many countries that include Canada and the United Kingdom and not forgetting United States.
My research on PayPal has shown that unlike Facebook that is a social networking website, PayPal is an e-commerce that allows payments and money transfers to be made on the Internet. In other words PayPal is the electronic alternative to traditional methods such as checks and money orders. PayPal was founded in December 1998 by a payments and cryptography company. Up to date, “PayPal operates in 190 markets, and it manages over 184 million accounts, more than 73 million of them active. PayPal allows customers to send, receive, and hold funds in 19 currencies worldwide. PayPal operates locally in 13 countries.”
In context to how impactful these new media trends are it is needless to say that e-commerce such as PayPal and social network websites like Facebook as hit the world like a storm. PayPal has made payment so readily available, traditionally when people had to pay for something they had to go down to the shop to make payment by hand , then came check book and credit cards which moved our society to a cashless and electronic mode of payment. With PayPal it brings payment to a whole new level as it show the synergy of credit cards and the internet resulting in a very convenient way of paying for items bought off the net. Moving on to Facebook, for a website to have more than 300 million active users worldwide is not something to overlook. Facebook has become so famous it has almost come to a point where it is a house hold name. Everybody and anybody who is internet inclined would know about Facebook, more so if you are in school, where socialising always happens.
On a personal note, for Facebook, I believe that there is always a hunger or a need in all of us to socialize with others. Traditionally one would have to step out of his/her comfort zone in order to do that and meet new people but nowadays with these social networking sites that need or hunger is filled in a superficial and yet artificial way. Obviously meeting new people online is much easier then meeting them in person as one do not have to deal with the ‘awkward’ feeling and therefore the personal gain you get from removing yourself from your comfort zone is lost, but then again a shy person using Facebook can gain more confidence from using it and to meet more people to boost his/her moral and confidence.
In conclusion, I feel that major new media trends like Facebook and PayPal would just continue to grow and get more and more users as the world moves further into a state where almost everyone’s life revolves around the internet, and without a doubt these media trends would continue to affect how our society grows and matures. I mean seriously, nowadays in our life we use internet for everything and even if we are unknowingly using it, be it shopping, chatting , socialising or business. When it all boils down, humans love the internet because of its convenience.
(just for the record, i do not own a Facebook, twitter or MySpace account, and NO its not because I got no life.)
Sources: http://en.wikipedia.org/wiki/PayPal
Sources: http://en.wikipedia.org/wiki/Facebook
Article: http://mashable.com/2009/11/04/paypal-id/