I’m out here at Google I/O where PayPal made a couple of announcements: the availability of its Mobile Payments Library for Android and the launch of its PayPal X Toolkit for Google App Engine.

Update: Here is an interview we did with PayPal’s Rasesh Shah on the announcements:

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The library makes it possible for consumers to make in-app purchases directly with their PayPal accounts, without leaving that app. "And in doing so," a rep for the company tells me, "there is no longer a need for developers to store their customers’ personal financial information."

The toolkit for App ENgine will power new payments in a number of different marketplaces, I’m told. "This toolkit will help developers easily and securely incorporate payments, including parallel and chained, into their applications and services built on the GAE plaform," the rep says.

More info about these announcements can be found on PayPal’s blog.