Online king of payments PayPal has been hard at work on their API for developers to take advantage of.  Back at Sun's JavaOne conference last month in San Francisco a PayPal rep cam out on stage to talk up their new developer platform and an upcoming developer event to unveil details to the public.

The wait is just about over as PayPal will be holding their first developer event later this month on July 23rd at their headquarters in San Jose.

Developers interested in payment related solutions should be really excited for what they have to unveil.  Leena Rao from TechCrunch was able to get her hands on the following document outlining the new program dubbed Adaptive Payments.

Adaptive Payments -

There have been many nipping at PayPal's heels over the past several years.  Y-Combinator startup TipJoy, Facebook and their new payment platform, and Google's Checkout team will no doubt be taking notice of what PayPal has in store for developers.

With its huge credit card processing power and expertise as web services Amazon's Flexible Payment Service has so far emerged as a main competitor to entice developers allowing micro transactions down to 1 cent and powerful API abilities for re-occurring payments allowing almost any payment solution to be built on the service.  One drawback of the service is that users that are submitting payments have to be signed up in Amazon's database and have a credit card on record.

SiliconAngle Labs will be on hand at the event to bring you more details and partaking in the developer hands-on lab section as well to see what Adaptive Payments is all about.

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