PayPal To Arrive on Xbox Soon

PayPal will soon be joining hands with Microsoft Corp. to allow consumers to purchase virtual goods over its game consoles. This move is a part of their efforts to attract more users to eBay’s payment products.

PayPal recently announced at eBay’s developer conference in San Francisco that now the customers of PayPal will be able to buy goods over Microsoft’s Xbox 360 game consoles.

For its digital goods in the current year, PayPal is expecting $4.7 billion in payment volume; this figure was $3.4 billion last year.

Senior director of emerging opportunities at PayPal Carey Kolaja in an interview said, “It’s symbolic of us moving beyond just the browser as a payment experience,” reported Bloomberg.

An analyst at Robert W. Baird & Co. in San Francisco, Colin Sebastian, said that the San Jose, California based company eBay is trying to gain profit from a share of video game industry that is expected to make about $30 billion in software sales worldwide in 2011 of which more than half is through sale of consoles.

The company also declared that PayPal will be providing new ways to pay for various types of content with different partners like the Financial Times and News Corp.’s Wall Street Journal and in near future will tie up with Blizzard Entertainment Inc. in gaming and with Spotify Ltd. in digital music.