eBay Inc. (Nasdaq: EBAY) today announced that executive David Marcus has
been named President of PayPal, effective April 2. PayPal is the leading
online payments provider serving millions of merchants and customers
around the world with a faster, safer way to pay and be paid. A member
of PayPal's executive management team, Marcus, has been leading PayPal's
rapidly growing mobile payments business and has driven important mobile
product innovations. Reporting to eBay Inc. President and CEO John
Donahoe, Marcus succeeds Scott Thompson, who left the company in January.
"David is the right leader for PayPal," Donahoe said. "He is
a successful technology entrepreneur with a passion for great products
that engage and delight customers. David leads with a founder's
perspective. He will bring start-up energy to PayPal's unmatched global
reach and digital payments capabilities. And he will sharpen PayPal’s
focus on accelerating product innovation, driving consumer engagement
and making paying anytime, anywhere through your digital wallet a safe,
easy and convenient experience. David's appointment signals our deep
commitment at PayPal, and across eBay Inc., to be a leading
technology-driven and customer-focused product innovation company."
As Vice President of Mobile for PayPal, Marcus has helped lead strong
mobile payments volume growth and innovation, including PayPal Here. The
new global service includes a free app and encrypted thumb-sized card
reader, which turns any iPhone, and soon Android smartphone, into a
comprehensive mobile payments solution. With PayPal Here, small
businesses, service providers and casual sellers can accept debit and
credit cards, checks and PayPal, or send invoices using one simple
integrated product.
“Shopping is fun, but paying is not,” Marcus said. “PayPal has an
incredible opportunity to make the way people pay simple, easy, and safe
– everywhere, and at scale. We’re off to a great start in 2012 with
breakthrough products that will truly change the way everyone shops and
pays. I’m honored and excited to be asked to lead this unique business
and help make the digital wallet an amazing experience for merchants and
consumers worldwide.”
For 14 years, PayPal has been revolutionizing the payments industry –
first with online payments in 1998 and then with mobile payments in
2006. In 2011, PayPal processed $118 billion in payments from over 100
million users in 190 countries, including $4 billion in mobile payment
volume.