eBay DevCon: It's All About The Money

It’s All About the MoneyIt s All About the Money

Jason KorosecJason Korosec

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You can share this information with others.Don’t forget to tag it eBay DevCon 09.Don t forget to tag it eBay DevCon 09.© 2009, eBay Inc. Some rights reserved.eBay and the eBay logo are among the registered trademarks of eBay Inc. PayPal and the PayPal logo are trademarks of PayPal, Inc. Other trademarks and brands are the property of their respective owners.

What is Money?What is Money?

C t li d A tCentralized Accounts

Cuneiform Sumer 5300 BCECuneiform, Sumer, 5300 BCE

A St f V l C ditiA Store of Value: Commodities

Maize Wheat RiceMaize, Wheat, Rice

R t ti f V lRepresentations of Value

Cowry Shells (貝) Rai, in Yap

Wampum

I i T d ith C i d MImproving Trade with Coined Money

1/3 SlaterLydia, 600 BCE

C i t P Fit d St tConversion to Paper: Fits and Starts

First Paper MoneyFirst Paper MoneyChina, 600 - 1455

W t C i t PWestern Conversion to Paper

Bank of England Notes

An Assignat Note (France)

John Law Notes (France)

P i t l I d C (i th US)Privately Issued Currency (in the US)

Fi t M R tFiat Money Returns

P i t V l R EPrivate Value Re-Emerges

Th P t R i it d C t li d A tThe Past Revisited: Centralized Accounts

Credited with coiningthe term, “Credit Card”

R ti V l C t llRepresenting Value Centrally

Western Union’s A i EWestern Union sCard (on-us only)

American Express

Bloomingdale’s gDiners Club Card

D t li d V l th h N t kDecentralized Value through Networksle nt ks

Payment Network

Exa

mp

Pay

me

Net

wor

Network

AcquirerBank

IssuerBankVa

lue

Rec

orde

dby

Ban

kR b

of

Buyer(Consumer)

Seller(Merchant)

n B

ehal

f N

etw

ork

Use

rs

On

A h R i d GApproach Required Governance

Payment NetworkNetwork

OperatingRules

AcquirerBank

IssuerBank

Buyer(Consumer)

Seller(Merchant)

Th W b C d N t P t T tiThe Web: Card Not Present TransactionsShift of Risk for

Payment Network

Card Not Present TransactionsTo Merchants

Network

OperatingRules

AcquirerBank

IssuerBank

Buyer(Consumer)

Seller(Merchant)

S ti th E tSupporting the Ecosystem

Payment NetworkNetwork

AcquirerBank

IssuerBank

Pay Flow Gateway Consumer WalletExpress Checkoutay o Gate ay Co su e a etp ess C ec outWebsite Payments Pro

Buyer(Consumer)

Seller(Merchant) Marketplace

AlchemyAlchemy

O t it All S ll N d D lOpportunity: All Sellers Need Developers

Payment NetworkNetwork

AcquirerBank

IssuerBank

Pay Flow Gateway Consumer WalletExpress Checkoutay o Gate ay Co su e a etp ess C ec outWebsite Payments Pro

Buyer(Consumer)

Seller(Merchant) Marketplace

Q&AQ&AJason Korosec

General Manager, PayPal Platform Product Management, PayPal

[email protected] @p yp

Q ti ?Thank you! Questions?To learn more, visitwww ebay com/devcon

Thank you!www.ebay.com/devcon