David Marcus Named PayPal President At eBay

    March 29, 2012
    Chris Crum

PayPal has a new President, and his name is David Marcus. He’s been with the company since last year. He came over when PayPal acquired Zong, and became PayPal’s VP of Mobile.

eBay CEO John Donahoe writes on the PayPal Blog:

I’ve picked David Marcus as the new president of PayPal and I couldn’t be more thrilled. 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. With David at the helm, we will have an even deeper commitment at PayPal, and across eBay Inc., to be a leading technology-driven and customer-focused product innovation company. We’ll continue to focus on accelerating product innovation, driving consumer engagement and creating a world where paying anytime, anywhere and any way is synonymous with PayPal.

David has made his mark since joining PayPal as VP of mobile when we acquired Zong last year. He’s worked closely with the entire PayPal leadership team to drive mobile to unparalleled new heights. We’re going close this year with more than $7 billion in mobile payment volume. And David’s helping inject new innovation — most recently with PayPal Here. PayPal Here is PayPal’s first global physical product and free app that turns any iPhone, and soon Android smartphone, into a comprehensive mobile payment solution.

Marcus takes the presidential reins at a time when PayPal is going in bold new directions, including competition with Square with its new PayPal Here product, as well as its new Digital Wallet.

As Donahoe notes, PayPal is making its way into retail stores as well. Home Depot recently rolled out PayPal in about 2,000 stores, and more retailers will follow.

Last year PayPal processed $118 billion from over 100 million users in 190 countries. The company processed $4 billion in mobile payments.