07 February 2016

PayPal names mobile man David Marcus president

29 March 2012  |  6113 views  |  0 PayPal logo

PayPal has replaced Scott Thompson, who quit as president in January, with its current mobile chief David Marcus, who joined the eBay unit last year when it acquired his direct carrier billing operator Zong.

In a blog post, eBay CEO John Donahoe, who has been acting as PayPal interim president since Thompson's departure for Yahoo, says Marcus brings a "founder's perspective" and "start-up energy" to his new role.

Marcus has taken to Twitter to express his excitement:

The new man founded Zong in 2008, enabling users to make online purchases for virtual goods using their mobile phone before selling it to PayPal last summer for $240 million.

Since then, he has acted as vice president of mobile, driving an increasingly important part of the business which is set to handle more than $7 billion in volumes this year.

PayPal has shifted its focus to mobile as a way to bridge the gap between online and offline, notably getting retailer Home Depot to roll out its in-store payment system nationwide.

Most recently, Marcus has been leading the development of PayPal's Square rival, offering small businesses a free dongle and app that allows them to accept card payments with their mobile phones.

Says Donahoe: "David's just the right leader for PayPal. For more than 15 years, he's been a successful technology entrepreneur with a passion for great products that both engage and delight customers. He's going to lead PayPal with that "founder's perspective," to bring start-up energy to PayPal's unmatched global reach and digital payment capabilities."

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