PayPal is not built to reliably support a peer-to-peer economy.
Experts say the threat from phishing could potentially have a devastating impact on consumer trust in e-commerce and e-banking despite attempts by government and law-enforcement officials to crack down on fraudulent Web sites. The open nature of the Internet makes it easy for criminals to hide, say police and consumer advocates.
Separately, David Ticoll reports in Canada's Globe and Mail on how to avoid being the victim of a phishing attack.
PayPal Web Services enables more streamlined and automated access to the PayPal platform, and broadens the audience for PayPal's ecommerce tools to include advanced technical developers and enterprise customers. PayPal Web Services are based on open standards, supporting Simple Object Access Protocol (SOAP) and Web Services Description Language (WSDL).
"Through PayPal Web Services, we are able expand the availability of advanced online payment capabilities to a new class of developers, third-party tool vendors and merchants," said Dave McClure, Director of PayPal's Developer Network. "These new standards-based APIs will allow almost anyone to create innovative applications and services incorporating PayPal."