Symbio To Showcase First Chinese Applications Built with PayPal X

a leader in next generation outsourced product development (OPD) and
PayPal’s partner, today announced it is sponsoring PayPal’s China
Developer & Partner Conference being held on December 14, 2009 in
Beijing at The Opposite House.

will unveil PayPal
X, the world’s first truly open global payments platform, at the
one-day conference. Attendees will learn how to embed PayPal’s secure
global payment system into their applications and platforms.

A leading value-add business partner to PayPal and an early adopter of
PayPal X, Symbio will showcase real world test pilots using PayPal X,
including their work for Qifang, a person-to-person lending company that
assists Chinese students who need to fund their education. With PayPal
X, Qifang will be able to accept lenders from around the world, in
multiple currencies. Symbio has designed, developed and delivered
applications built with PayPal X for companies in a range of vertical
markets and use cases.

"The launch of PayPal X means developers can now easily create and
implement custom payment methods,” said Jake Hsu, CEO of Symbio. “Symbio
builds products that support technological convergence and tomorrow’s
technologies and as an early adopter of PayPal X, Symbio is delighted to
share its experience in helping developers embrace this new payment
platform and accelerate time to market.”

PayPal X provides a complete platform that includes Application
Programming Interfaces (APIs) technical documentation, sample code,
applications, examples and an entire resource community designed to
support PayPal developers. The platform enables developers to collect
payments in non-traditional scenarios – expanding the types of
transactions for which PayPal can be used, such as paying rent or
employee payroll. PayPal X is designed to be adaptable to the many
different payment scenarios that developers need and giving them access
to PayPal’s 200 million accounts in 190 markets and 24 currencies

Symbio CEO, Jake Hsu and Naveed Anwar, senior director of the PayPal
Developer Network will host a joint panel at the conference offering
their perspectives and insight on ways the development community can
immediately implement this leading platform to help facilitiate online
transactions and further stimulate e-commerce.

"More than 9,000 developers have signed up to PayPal X since we first
opened our global payment platform a few weeks ago because they
recognize the enormous business opportunity,” said Osama Bedier,
PayPal’s vice president of platform. “We’re excited to bring that global
opportunity to China and to work with Symbio to help businesses around
the world change the future of payments.”


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