PayPal Launching Micropayment Service; Facebook On Board

PayPal is taking a crack at one of the most desired features in e-commerce: A simple payment system for small purchases of digital goods and content. The eBay unit said today its much anticipated micropayment service will debut later this fall, featuring easy, two-click purchases for consumers and low fees and quick payment for merchants and publishers. Early adopters of the service include sites like FT.com and GigaOM, using the system for premium content and subscriptions, but the biggest boost will come from its integration with Facebook, putting it in front of millions of impulse buyers.