Magento has reached an agreement to be acquired by eBay Inc. which previously had a 49 percent stake of shares, in a bid to build a broader commerce operating system that spans online, mobile, social and local. eBay will own 100 percent of the outstanding shares of Magento. Terms of the deal were not disclosed. Magento believe this move will open incredible opportunities for the entire Magento ecosystem.

eBay is evolving to become a strategic commerce partner focused on delivering new ways for merchants of all sizes to drive innovation. It expects the acquisition and the open commerce X.Commerce group will allow it to provide services for merchants and retailers beyond payments and websites. Magento will be at the core of this new, open commerce platform, called “X.Commerce.”

X.Commerce, an open platform that can offer a wide array of end-to-end services to merchants, providing everything from local inventory data and discounts to historical information on pricing, transactions and browsing. It then offers tools for payment and helps close the loop on transactions so retailers know how it all came together. More details will be shared with developers during the X.Commerce Innovate conference on Oct. 12-13 in San Francisco.

From the eBay press release: “We believe the acquisition of Magento and creation of our X.Commerce group will enable us to meet developers’ needs and drive global commerce innovation for retailers and consumers.” It’s a necessary step and a sign of how the world of commerce, online and offline, is all coming together.

We make it easier to integrate Magento’s open source shopping solutions and design integration to online retailers. For further clarifications please click here to contact our sales team for further information.

eBay revealed at their latest analyst day that it owns a 49% stake in Magento and their invest $22.5 million one year ago. Magento announced back in March 2010 about the investment in a blog post without revealing the identity of the investor. eBay officially confirmed that they invested $22.5m in Magento in return for a 49 per cent stake in the four-year-old company on Thursday and caught many by surprise.

Magento’s accomplishments over a very short period of time are astonishing, but not surprising. Magento has become the fastest growing eCommerce platform in the world, and is poised to become the largest open source software company as well. Magento provides just that – a platform that we can leverage strategically to help our clients in the difficult process of continually moving that needle.

eBay’s commitment to Magento aim to be the premier marketplace and payment provider on the Internet, but it makes sense. “ We are fortunate to have a partner that supports our strong belief in open source, community and innovation, Magento controls the remaining 51% of the company, so Magento’s operations would remain mostly independent from eBay says, Magento co-founder and CEO Roy Rubin . By investing in Magento which is one of the premier ecommerce solutions available they are cementing their position in wider online retail than marketplace business. EBay Inc. chief technology officer Mark Carges said “Combined with the power of our platform innovations, we can offer retailers an unmatched advantage as an e-commerce partner, We view our platform assets as enablers, not just for our business but for other retailers.”

We make it easier to integrate Magento’s open source shopping solutions and design integration to online retailers. For further clarifications please click here to contact our sales team for further information.

One of the best ways to make money online is to sell digital products. PayPal is the best recommended practices to use and already the leading payment methods for digital goods . PayPal has recently given sellers improved permission and requirements by officially launching its faster, safer way for consumers to purchase their favorite digital content: PayPal for digital goods. Many sellers can enjoy increased profits when working at home by selling digital goods on PayPal. Today, PayPal for digital goods comes out of Beta and is widely available to game developers, media publishers, or anyone interested in 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. With the new implementations put in place by PayPal when it comes to digital goods and services, making money online has never been easier. PayPal for digital goods still has competitive fees for micro payments pricing of 5 percent plus 5 cents for purchases under $12. This is actually lower than fees typically charged by payment processors in the DG industry. As an extra perk, publishers and merchants are paid automatically and given immediate access to their funds, every time a customer purchases digital goods.

PayPal gives merchants global reach with more than 94 million accounts in 190 markets around the world. The company closed out 2010 with $3.4 billion of total payment volume for digital goods. However, to successfully earn money at home in this manner, PayPal makes it easy with all the resources on digital goods. Do you sell digital products online? If you need to integrate this service to your online website please click here to contact our sales team for further information.

Paypal updated it’s policy due to recent regulations from Indian government. The changes in policy is effective from March 10, 2010 stated in their upcoming policy changes. Interestingly, this is not available in PayPal, India website (www.paypal.com/in), available in US website (www.paypal.com/us). Here is the list of changes:

Amendment to the PayPal User Agreement

Section 8 (Fees) of the User Agreement is amended to state that you may not send a Personal Payment to a recipient in India. Any payment sent to India must be for a Purchase Payment and will be charged the Purchase Payment fees.

Amendment to the PayPal User Agreement

The following will be added to section 11.7 (newly numbered 11.5) as an additional example of transactions not eligible for seller protection:

“Items that are not shipped to the recipient’s shipping address on the Transaction Details Page. If you originally ship the item to the shipping address on the Transaction Details Page but the item is later redirected to a different address, you will not be eligible for seller protection. We therefore recommend not using a shipping service that is controlled by the buyer.”

Amendment to Section 13 (Protection for Buyers) of the PayPal User Agreement

Section 13.3 (Eligibility of Item Purchased on eBay) has been amended. Eligibility for PayPal Buyer Protection is now based on whether the PayPal or eBay buyer protection message is included in the eBay listing. Previously eligibility had been based only on whether a PayPal Buyer Protection message was shown.

Amendment to the PayPal Student Account Agreement

1. The following language is added to section 3.c (Parent Control):

x.: “Marketing Promotions. If the Parent Account has opted-in to receiving marketing notifications in its Account Profile, then we may send such notifications to the Child as well.”

2. The following language is added to section 3.d (Child Control):

x.: “Marketing Promotions. The Student may participate in marketing promotions or campaigns offered from time to time.”
3. The last paragraph of section 4 (Liability) will read:

“Any online agreements that are accepted by the Child, including terms and conditions of any promotion the Child participates in, are accepted by the Parent as if the Parent had taken the action. The Parent is responsible for educating the Child on internet safety.”

Amendment to the PayPal Acceptable Use Policy

Beginning March 10, 2010 the PayPal Acceptable Use Policy is being amended under the Activities Requiring Approval section to add airlines and scheduled or non-scheduled charters/jets/air taxi operators as services that require pre-approval.

Source: https://cms.paypal.com/us/cgi-bin/?&cmd=_render-content&content_ID=ua/upcoming_policies_full&locale.x=en_US