Open Source stays pal for PayPal

LOS ANGELES: Magento, an open source e-commerce platform, and PayPal announced they are expanding their relationship to offer PayPal to online retailers through Magento’s open source shopping solutions. PayPal will be deeply integrated and promoted to merchants and developers using Magento’s service, making it even easier for businesses to get up and running with e-commerce and online payments.

Magento's open source product gives merchants complete flexibility and control over the user experience, content and functionality of their online channels, as claimed in press release. In the coming months, merchants and developers who integrate Magento will have automatic access to PayPal’s global payment engine, which has more than 81 million active accounts around the world.

"PayPal is committed to offering our global payment service through open platforms, so working with Magento is a natural fit," said Osama Bedier, PayPal's vice president of platform and emerging technology. "We believe that Magento’s and PayPal’s services are ideal for merchants looking for a faster, more cost-effective way to do business online."

"We are thrilled to be working more closely with PayPal to introduce Magento to a new class of merchants, as well as offer PayPal to Magento's existing customers. PayPal's commitment to open source supports the community's efforts and helps to establish Magento as a leader in the e-commerce ecosystem," said Roy Rubin, CEO of Magento.

PayPal and Magento have agreed to co-market their services and will collaborate on product development. The companies expect to complete the next stage of their product integration later this year.