The second PayPal X Developer Challenge is now officially open!

We're excited to announce PayPal's second Dev Challenge! They're rewarding the most innovative payments applications that leverage the PayPal X platform. PayPal is also expanding the contest with new sponsors and more prizes: in addition to the $100,000 grand prize for the most innovative idea, and also offering $10,000 PayPal X category Awards. The X Awards, issued by PayPal and its partners, will be awarded to developers who create an app or service that directly impacts its users’ daily lives in a certain category. These include:

Best application that leverages PayPal X’s Mobile Payments Library;

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.



In addition, we’re also introducing two community-based awards – the People’s Choice and the 2010 Innovate Awards. The People’s Choice winners will be selected by the PayPal X online community and the top finalists will be invited to exhibit at PayPal X Innovate 2010. The 2010 Innovate Award winner will be selected by attendees of the PayPal X Innovate 2010 [hyperlink to https://www.paypal-xinnovate.com/].

So if you’re a developer interested in working with PayPal's APIs and want to be rewarded for your great idea. A complete list of PayPal X APIs is also on x.com. More information is in the full press release [include link], and you can keep up with the contest by friending us on Facebook and joining the Twitter conversation at @PayPalX and #XContest.

And if you register for the Challenge by August 4 at 11:59pm PDT, you could win one of 10 iPads. All the contest timeline and deadline details are on x.com.

The big winners will be announced at PayPal X Innovate 2010 on October 26-27 at Moscone West in San Francisco!

Good Luck!