eBay names new PayPal president

SAN JOSE, Calif. — eBay has named David Marcus president of its PayPal online payment provider division, effective April 2. 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 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 VP 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.

Marcus joined PayPal in August 2011 after the company completed the acquisition of Zong, a leading provider of mobile payments, where he was CEO and founder.

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