Facebook plucks PayPal’s president David Marcus
Facebook has been the undisputed king of social media for a number of years now, but unlike its predecessors, the site has no intention of being just a craze.
To secure its position, Facebook has been promoting its usefulness for advertising and social media marketing, acquiring a string of enterprises, and expanding into brand new territories altogether.
Facebook’s next move may be on the financial front, recently employing PayPal’s president David Marcus to lead its mobile messaging team.
In his new role as VP of messaging products, Marcus no doubt has some grand designs to improve the service.
“I’m looking forward to getting my hands dirty again attempting to build something new and meaningful at scale,” said Marcus in a Facebook post announcing his new position.
Before his role as PayPal president, Marcus was in charge of the company’s mobile payments business so he is clearly the man for Facebook’s job.
PayPal is a popular web-based service used to make online transactions, with over 106 million active users who process over $315 million a day, according to Statistic Brain.
Marcus’ experience with mobile could definitely help improve Facebook’s messaging app, which the company reports is currently used by more than 200 million people worldwide, sending 12 billion messages a day.
His experience in online finance might also come in handy to Facebook, if recent speculation about the social medium offering banking services is to be believed.
In April it was rumoured that the site had applied for an e-money license at the Bank of Ireland.
Alternative forms of payments, such as PayPal, are becoming incredibly popular because they aim to make online transactions a lot easier and more secure for consumers.
A recent study by Accenture asked consumers what major companies they would consider banking with if they were to offer banking services.
Funnily enough, PayPal was voted the most likely, with 46 per cent of consumers between 18 and 34 years old saying they would be interested, ahead of Google, Amazon and Apple.
If Facebook were to introduce online transactions to their service, we could see the site adding a whole new realm to its social networking kingdom.
Posted by Dylan Brown