PayPal's third developer competition is go, but this time it's Android only

The third contest of its kind, PayPal has announced it is launching a development competition for titles that make use of its PayPal X payment API.

This time, however, the fight will be a straight contest between Android apps, with a $50,000 strong prize fund on offer.

Credit where it's due

"We're looking for something new, something surprising, something with business potential, something that integrates PayPal payments," the firm says on the competition's webpage.

"The winning application will make us say, 'Wow'."

The app that scores the top prize which will be announced on June 29 will take home $25,000, while the second placed app will be awarded $15,000 and the third placed $10,000.

Rules and regulations"In addition to the cold hard PayPal account deposit, the top 3 applications will receive marketing and PR support from PayPal to help build awareness of their application," PayPal adds.

Developers looking to submit their apps into the contest need to do so by May 14.

PayPal's API then has to be implemented by June 3, before making it onto Android Market in its refreshed state by June 7.

Further details can be found on PayPal's website.