PayPal restructures

PayPal is continuing to move toward merging mobile and their recent retail launch while it continues to eliminate certain online business models from underwriting.

Here is the latest from Payment News:

PayPal is reorganising its business around mobile, merging several product groups and promoting execs to head up the new divisions. The firm's new president, David Marcus, is attempting to unify PayPal's services in a bid to shed "unneeded complexity" and, more importantly, keep merchants and consumers onside. The reshuffle also marks PayPal's ongoing focus on mobile as it attempts to keep up with younger competitors such as Square in the burgeoning mobile payments space.

"Mobile is simpler by definition. Starting product designs from mobile will force the elimination of features introducing unneeded complexity," writes Marcus in a company post. As part of the restructure, the online, offline and mobile payments groups will merge into a single mobile group led by global head of product Hill Furguson. The firm will also merge its Americas regional organisation with its global financial services group, with the merged group led by former BillMeLater CEO Gary Marino.