At 500 Startups’ Smash Summit in New York today, Robert Scoble revealed that PayPal is launching something big with Facebook in two weeks, and that it would be a more expansive partnership than the existing PayPal-Facebook integrations. This announcement is coming at eBay and PayPal’s X.commerce Innovate conference in two weeks, we’ve confirmed with the payments giant, and Katie Burke Mitic, who leads Platform Marketing for Facebook will be making an announcement. We hear the announcement will be relate of PayPal parent company eBay Inc.’s new developer platform X.commerce.
Last year, PayPal announced its new micropayments product, which Facebook integrated. In early 2010, Facebook announced that you could use PayPal to purchase Credits.
So what could the new deal or integration be? A likely possibility is a Facebook partnership on the new X.Commerce platform, which is a division of eBay, Inc. and is expected to bring together elements from eBay, PayPal, Magento and GSI Commerce. According to PayPal, X.commerce will feature a “fabric” that stitches the platform together to create new experiences for retailers and their customers. A number of partners will be announced (already Adobe and Kenshoo have been revealed as partners), so Facebook could be part of this group.
eBay and PayPal wouldn’t reveal exact details of the integration but did give us this comment from Naveed Anwar, head of X.commerce Community: “We’ve been talking for a while about how the four megatrends of mobile, social, local and digital will change commerce. Yesterday at f8, Facebook made some great announcements that will change social networking. When social and commerce join together great things will be possible and developers will be able to monetize these new developments very quickly.”
PayPal could also announce a deal similar to the one American Express formed with Facebook, which links your credit card account with Facebook to offer users special exclusive deals. If you buy the deal item with your AmEx card, you will be credited the deal amount. The deals you see are influenced by what you and your friends “like” on the Web using the Facebook like button. PayPal already offers deals but a deeper integration with the social network would help close the redemption loop.
With more retailers flocking to Facebook, and as more money is passing through the network via games, apps and others experiences, there is a huge potential for many integrations with online payments giant PayPal. Another announcement we can expect PayPal to make soon—a new payments platform for merchants and in-store payments integrations with retailers.
TechCrunch readers can receive $200 off the registration price for X.commerce Innovate Developers Conference 2011 if they register by Friday, September 30, 2011. You can register here using the code INN2011TC.
PayPal is an online payments and money transfer service that allows you to send money via email, phone, text message or Skype. They offer products to both individuals and businesses alike, including online vendors, auction sites and corporate users. PayPal connects effortlessly to bank accounts and credit cards.
PayPal Mobile is one of PayPal’s newest products. It allows you to send payments by text message or by using PayPal’s mobile browser.
PayPal created the Gausebeck-Levchin test, which is that blurry…
Facebook is the world’s largest social network, with over 500 million users.
Facebook was founded by Mark Zuckerberg in February 2004, initially as an exclusive network for Harvard students. It was a huge hit: in 2 weeks, half of the schools in the Boston area began demanding a Facebook network. Zuckerberg immediately recruited his friends Dustin Moskowitz and Chris Hughes to help build Facebook, and within four months, Facebook added 30 more college networks.
The original idea for the term…