Paypal had launched its Startup Blueprint initiative to help startups with their operations. The program intended to provide free use of payment services to startups for the first 18 months. Startups who would be qualified for enrollment in the Startup Blueprint initiative would be able to save up to USD50,000 in transaction fees.
The Startup Blueprint would also be providing dedicated developer support for startups. Paypal would be working with high-profile incubators such as Elevator, 500Startups and Seedcamp for this type of support.
Startups who wished to qualify for the PayPal initiative should be working on Internet or mobile software or services. The startups would also need to earn not more than USD3 million in yearly revenue and should not be more than five years old.
PayPal has been growing into a payment service giant over the past few years. Revenue from payment services increased to USD1.6 billion in the second quarter, a 20% premium from the same period last year. Net total payment volume for the second quarter this year was a 24% premium at USD43 billion, thanks largely to e-commerce website eBay Inc.
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