PayPal President David Marcus Stepping Down To Join Facebook

eBay has just announced that David Marcus leaving behind his position as PayPal’s president in order to join the Facebook team. Marcus will be departing as of June 27 and will be leading Facebook’s messaging products.

John Donahoe, president and CEO of eBay praised Marcus’s work, saying, “As the head of PayPal, David helped make a great business better, reinvigorating product design and innovation and energizing the team to deliver compelling consumer experiences.”

He continues: “An entrepreneur at heart, David has made a career decision to focus on what he loves most – leading smaller teams to create great product experiences. We wish him well. He leaves behind a strong leadership team, committed to not skipping a beat on executing our plans, scaling product innovation and driving global growth.”

In recent months PayPal, as a founding member of the FIDO Alliance, has been a strong presence in the world of mobile identification. This is most apparent in the company’s support of the Samsung Galaxy S5 fingerprint sensor. It has also received attention in the area of physical point-of-sale smartphone solutions it is said to have in the pipeline.

“Leading PayPal has been one of the most amazing experiences of my career,” says Marcus. “I’m proud of what we’ve done together over the past two years, reinvigorating and accelerating product innovation and strengthening PayPal’s global leadership in mobile and digital payments. I believe PayPal is poised for long-term success in creating the future of money. And I know the business has a strong leadership team in place. That’s why now felt like the right time to make a change and return to how I most love to spend my time, leading smaller teams to build great product experiences.”

Expected to report its second quarter 2014 financial results on July 16, PayPal’s leadership will be reporting to Donahoe until a replacement has been found for Marcus. In the press release announcing the change in leadership, eBay stated that PayPal currently has more than 148 million active accounts. In 2013 it processed $180 billion in payment volume, $27 billion of which were mobile payments.

May was mCommerce Month here at Mobile ID World. To learn more about the active world of mobile innovations in finance, take a look at our month-long mCommerce roundup.