Mobile payments strategist David Marcus to head PayPal

Telecom Lead America: Mobile payments strategist David
Marcus will head PayPal, an online payments provider.

A member of PayPal’s executive management team, Marcus, has
driven major mobile product innovations. Reporting to eBay President and CEO
John Donahoe, Marcus succeeds Scott Thompson, who left the company in January.

As vice president of Mobile for PayPal, Marcus has helped
lead mobile payments volume growth and innovation, including PayPal Here.

He will bring start-up energy to PayPal’s global reach and
digital payments capabilities. 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,”
Donahoe said.

PayPal Here service includes a free app and encrypted
thumb-sized card reader, which turns any iPhone, and soon Android smartphone,
into a 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.

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,” Marcus said.

In 2011, PayPal processed $118 billion in payments from over
100 million users in 190 countries, including $4 billion in mobile payment
volume. PayPal is extending its online and mobile capabilities offline. Home
Depot recently rolled out PayPal to all of its nearly 2,000 stores nationwide,
and PayPal is implementing its point of sale innovations with other national
retailers this year.

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