Facebook lures mobile payments specialist from PayPal - Mobile World Live

Facebook lures mobile payments specialist from PayPal

10 JUN 2014

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.



Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

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