Facebook, which was recently reported as eyeing the international remittance market, has hired David Marcus (pictured), the well-regarded president of PayPal.
Marcus will head the social network giant’s mobile messaging efforts. Yet he is known as a mobile payments specialist.
Prior to leading PayPal, he was the company’s VP Mobile and previously founded Zong, which enables users to buy digital goods on their phones. Zong was acquired by PayPal.
And Facebook is considering a move into mobile money. According to a recent report in the Financial Times, the company is looking at a service that allows users to send cash internationally to friends and family.
It is possible of course, he is reneging on his background and will devote himself to building a mobile messaging business.
According to the FT story, Facebook offered $10 million to mobile remittance Azimo to hire one of its co-founders as a director of business development.
The social networking giant appears to have big plans for mobile money. The company sees the area as a gateway into emerging markets. Marcus’ hire is a mark of its ambitions.