Today at eBay's 2001 Analyst Day, PayPal announced the general availability of its digital goods solution, aptly called PayPal for Digital Goods.
The product is designed for online publishers. "The solution makes paying for content online convenient and secure for consumers, a long-time challenge for all sorts of digital content providers," a PayPal representative tells WebProNews.
The product was actually announced last year, but it is now out of beta, and is widely available to developers, publishers, or anyone else selling digital content on a global scale.
"When consumers pay for online content, PayPal for digital goods allows them to pay in as little as two clicks without ever leaving a publisher's game, news, music, video or media site," explains PayPal's Carey Kolaja. "It's the online equivalent to dropping a quarter in the slot to buy a gumball."
"Based on PayPal's existing security, the service offers a faster, safer and more cost-effective way to send and receive micropayments," she adds.
Fees for micropayments are 5% plus 5 cents for purchases under $12.
PayPal says it closed out last year with $3.4 billion of total payment volume for digital goods.