PayPal gets competition as EBay adds Paymate

The PayPal monopoly at EBay continues to crack. Today, the auction giant officially added Australian payment processor Paymate to a growing list of PayPal alternatives. Other payment systems authorized by PayPal include Moneybookers, ProPay and Bill Me Later, which EBay acquired last year.

Paymate has actually been working with EBay since late 2008, but today the service went live for all EBay users in the U.S. Paymate is hoping to cut a deal with the Australian subsidiary of EBay to make the service available in its home turf.

Paymate allows U.S. sellers to accept credit card payments via Visa, MasterCard and Discover. The company was founded in 2000 and is used by buyers in 57 countries including Australia, New Zealand and the U.S.

Paymate is integrated into the EBay Checkout process.

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