Zong Founder David Marcus has been named president of PayPal, filling a position vacated in January by Scott Thompson, who left to be CEO of Yahoo.
Marcus’ appointment was announced on the PayPal Blog this morning by John Donahoe, CEO of eBay, which owns PayPal.
According to Donahoe, Marcus will bring a “founder’s perspective” to the payment service.
“With David at the helm, we will have an even deeper commitment at PayPal, and across eBay Inc., to be a leading technology-driven and customer-focused product innovation company,” Donahoe states in his announcement. “We’ll continue to focus on accelerating product innovation, driving consumer engagement and creating a world where paying anytime, anywhere and any way is synonymous with PayPal.”
eBay acquired Zong, a mobile payment service, for $240 million in cash last July. Since then, Marcus has served as PayPal’s vice president of mobile, leading the development of programs such as PayPal Here, a new thumb-sized credit card reader that plugs into mobile devices.