Business, Economics and Jobs

David Marcus is PayPal’s new president


A sign for Internet payment transaction portal PayPal in Germany.


Sean Gallup

Internet marketplace EBay Inc. has named David Marcus president of its PayPal payment business, Bloomberg Businessweek reported. EBay acquired PayPal in Oct. 2002.

Marcus, vice president of mobile for PayPal, steps into the job vacated by Scott Thompson, who became CEO of Yahoo! Inc. in January, according to Investor’s Business Daily.

Prior to joining EBay, Marcus founded Zong Inc., a service that let customers make purchases from mobile phones or computers using their mobile phone number, Bloomberg Businessweek reported. EBay bought Zong for $240 million in Aug. 2011.

"David is the right leader for PayPal," EBay CEO John Donahoe said in a statement, Internet Retailer reported. "He is a successful technology entrepreneur with a passion for great products that engage and delight customers. 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.”

Under Marcus' tenure as mobile chief for PayPal, EBay rolled out "PayPal Here," a service that enables vendors to accept credit and debit cards, PayPal and checks using an iPhone PayPal app, Internet Retailer reported.

Getting more customers to use PayPal in the real world, not just online, is a priority for EBay. Last month, PayPal introduced payment terminals that allow shoppers to make in-store purchases using PayPal in Home Depot Inc. stores across the country,