PayPal has announced a new program that gives incentives to banks and tech providers when they sign up for PayPal Express Checkout payment service. The company is coming up with way to compete with Google Checkout and this is just the latest in it's endeavour to bringing in new customers. The company is also offering tech support and marketing materials, option to be listed on a PayPal directory of business partners and even a cash bonus of $2,500 for each merchant sign up for the Express Checkout program.
PayPal says the partner program is designed for providers of shopping carts for online retail sites, e-commerce platform providers, payment processors, merchant banks and other providers to Internet retailers. The shopping cart providers are particularly crucial because once they integrate PayPal Express Checkout into their service they can offer it to their retailer clients, says Matthew Pace, senior associate at Compete Inc., which measures traffic to Internet sites.
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