Osama Bedier, VP of platform and emerging technology, sets the record straight regarding TechCrunch’s announcement that PayPal are to open its API to developers.

Mr. Bedier adds that "while we had not planned on the internal documents being shared this early, it is true that PayPal will be the first and only global payments platform open to third-party developers allowing them to easily monetize their ideas."

PayPal will host a limited-seating event on July 23^rd where we will be revealing more details as well as a larger conference in November specific to this platform.

He adds that "this is not an effort to “crush Amazon’s fledgling payment service” but to unleash developer innovation which we believe has been stifled because it’s so hard to make money with what’s currently available to developers today.