PayPal sees an opportunity for developers. The company thinks third-party developers could make good money offering apps to consumers and merchants that relate to PayPal’s services, but that the company doesn’t have the interest or resources to build for itself. “It could be an invoicing application for a merchant or a ‘daily deals’ application for consumers,” explains PayPal’s Osama Bedier.
With that in mind, PayPal will open an App Store later this year.
The move comes after eBay created a similar service last year, and after mobile application stores, like Apple’s, have become very successful.