PayPal is planning to unveil a new open software system, dubbed Paypal X, that allows software developers to easily integrate the payments system. "We're taking all of our product capabilities and making them open and that much easier for you to use," said Scott Thompson, PayPal's president. The system will debut today in San Francisco. The move is part of PayPal's effort to protect its turf, which has seen increased competition from Amazon, Facebook and other companies.
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