PayPal has announced its second and expanded developer challenge for PayPal X. The company will award innovative payments-enabled apps and services that utilize PayPal X. The grand prize is worth $100,000 – $50,000, and will be deposited directly into the winner’s PayPal account. Another $50,000 will go towards waived transaction fees.
A spokesperson for PayPal tells us, “Also new this year, are the ‘X Awards’ PayPal and its partners are introducing, along with community-based awards. The X Awards will allow developers to win awards for outstanding apps in various categories – each category winner will be rewarded with $10,000. As for the community-based awards, the PayPal X community will select the People’s Choice award winner by voting on x.com and the top finalists will be invited to exhibit at the PayPal X Innovate 2010 conference on October 26-27 in San Francisco. The Innovate 2010 Audience Award winner will be selected by attendees of the PayPal X Innovate conference.”
X Awards will be given in the following categories:
– Best application that leverages PayPal X’s Mobile Payments Library (available on iPhone and Android);
– Best application built by university students;
– Best consumer application;
– Best application that promotes cross-border commerce;
– Best application that takes advantage of Yahoo!’s platform;
– Best application that takes advantage of eBay’s platform.
There will also be two community-based awards – the People’s Choice and the 2010 Innovate Awards.