David Marcus Tapped As PayPal President

SAN JOSE, Calif. -- PayPal's mobile unit chief will become the online payments service's next president.

David Marcus, PayPal's vice president of mobile, is succeeding Scott Thompson, who left in January to become CEO of Yahoo Inc. Marcus will move into the new job on Monday.

Marcus' leadership should help PayPal continue to expand its mobile reach. Recently, it unveiled a service that lets small businesses from coffee shops to plumbers accept credit cards using a small triangular card reader attached to a smartphone.

PayPal, which is owned by eBay Inc., has been thriving recently, becoming the fastest-growing part of eBay, which had its roots as a pioneer of online auctions. Marcus is taking PayPal's helm as the company looks to grow beyond online payments to brick-and-mortar stores and everywhere else people shop. It is currently testing a program that lets people use their PayPal accounts to pay at Home Depot stores.

Thompson, meanwhile, took on a more difficult job at Yahoo, joining the company at a time when it's struggling with revenue declines, tough competition and other problems left behind by previous CEOs who couldn't turn things around.

Marcus joined PayPal in August as part of its acquisition of Zong, a mobile payments provider that he founded.

Marcus will report to John Donahoe, president and CEO eBay.

Shares of eBay fell 25 cents to close Thursday at $36.99.

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Comments

[ampolex]

10:14 PM on 05/04/2012

Last week paypal froze over $9729.29 (my customer's money) on my pay-pal account for 180 days. They did it without any reasons. My company has 100% positive feedback, Gold Power Seller and Top Rated Seller on E-bay. I spoke to Jamie Hodges (Risk Analyst) and she said I did absolutely nothing wrong but this is business decision. I can not believe it !!!
I can not refund my customers money or ship merchandise. Jamie Hodges said they will keep my $9729.29 as a security deposit !!!!!
She said paypal will keep my money and I have to ship the merchandise or refund my customers from my own pocket.
I wanted to cancel the paypal account and it is also impossible. My customers are very upset because they think I have their money. I understand them because they paid. Now I have some merchandise which I am able to ship but I am not going to do so because I did not receive money.
Since April 20, 2012 I lost at least $12000.00 in sales and my e-bay business is in jeopardy.
Regards,
Darius Lachowicz
Ampolex
1243 E. Baldwin Lane, suite #114
Palatine, IL 60074
Tel. [phone]

[PhilipCohen]

06:17 PM on 03/30/2012

David Marcus is probably a nice guy. What's he then doing at eBay/PayPal?

And, just for a laugh, some serious analyses of PayPal's "The New Way To Pay In-Store", PayPal Here, PayPal Digital Wallet, PayPal Debit MasterCard, PayPal Local and Watch With eBay ...

http://forums.auctionbytes.com/vbulletin/showthread.php?t=24611

eBay / PayPal / Donahoe: Dead Men Walking

[parabq]

12:33 PM on 03/30/2012

Ebay and PayPal suck !!!!!!!!!!!!!!!!!