PayPal has appointed a new CFO, the company has announced. John D. Rainey comes to the company from his previous position as Executive VP and CFO of United Airlines.
Rainey will report directly to PayPal CEO Dan Schulman, and replaces the company’s previous CFO, Patrick Dupuis, who is now the company’s Senior VP of Simplicity, Quality and Productivity. In a press release, Schulman said he “couldn’t be more thrilled” about the appointment, citing Rainey’s “ability to lead a financial function in a complex, industry-leading business, while maintaining an unrelenting focus on serving and advocating for his company’s customers.” Rainey, meanwhile, exclaimed that he “can’t imagine a more exciting time to join PayPal,” asserting that the company “is leading the transformation of money and the digitization of payments.”
It certainly is trying to. Having branched off from parent eBay to become an independent company just last month, PayPal is now taking aim at a wide swath of the global payments market, looking to pioneer digitization on a number of fronts. In so doing it is increasingly bumping shoulders with Apple Pay, its clearest and most competent rival in on the mobile payments front. As the new CFO, Rainey may be able to leverage his experience with United Airlines to help PayPal’s mPayment efforts take flight.