New PayPal President David Marcus Talks About Past, Present & Future
News of Marcus’ appointment to the President position came on Thursday, when eBay CEO John Donahoe broke the news on the PayPal blog. “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 wrote.”
He was born in Paris, and talks a bit about his European background in the interview. He moved to the U.S. a few years ago to start Zong, which PayPal acquired last year. When he joined PayPal, he became GM of Mobile.
“I’ve been a serial entrepreneur in the tech business,” says Marcus. “Zong was, I think, my third or fourth company. I’ve always been innovating on the edges of mobile and payments.”
“We have an amazing management team. The exec staff is world class,” he says on how PayPal is well positioned for the future. A couple of new products the company unveiled this month shouldn’t hurt either. That includes PayPal Here, a new card reader (which also accepts other means of payment) and PayPal digital wallet, which lets consumers easily pay for things from their mobile devices. Meanwhile, PayPal is starting to infiltrate retail stores.
PayPal processed $118 billion from over 100 million users in 190 countries in 2011, including $4 billion in mobile payments.