PayPal yesterday unveiled its upcoming Adaptive Payment Platform at a press event. The new platform will introduce several new programming interfaces, which developers can work off of, to build a new generation of online payment applications with unlimited flexibility.

According to PayPal, 300 developer partners have been working with the API in beta form so far, which will be extended to the public in November. PayPal will be holding its first developer conference, PayPal X Innovate 2009 in November.                                                      

EBay has high hopes for PayPal, as can be evidenced by what CEO John Donahoe told CNET News: "People will find a much better solution building on top of the PayPal platform." He also believes that PayPal, as a business, "will be bigger than eBay," though this transformation will take four to six years.

For more on this story:
- check out this article at CNET News
- and this article at CNET News

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