David Marcus has been at the helm of PayPal for just a few months and is already working on improving the image and adding new features to the pay site. PayPal has been the trusted way to pay online for several years, first being recognized with eBay. However, new competition and some issues with PayPal for some customers have caused it to rethink how it handles customer service.
PayPal is moving from online payments to offline “in the real world” as it works to become the way to pay for physical locations as well as sites like Amazon and eBay. By April 2013, it is expected that PayPal will work wherever you see the “Discover Network” sign. It will be similar to Visa and Mastercard in the fact that you will see it various locations all around the world.
With this new method of payment, you can either swipe the card that you will have or by typing in your mobile number. You can store all of your bank accounts and credit cards in your PayPal account and select which one you want to pay with. Retailers will not have access to your card.
This new feature does have a downside with the company and that is the amount of security it will require to manage this many transactions and protect customers. New president David Marcus knows he has a lot of work ahead. PayPal is already dealing constantly with hackers and many other attempts to steal customer information. The company has to remain vigilant and these issues will only compound as people use their account even more.
Marcus also recognizes the need for improved customer service and says he will focus on that along with maintaining security and expanding the company. As more startups work to compete with the online payment giant, Marcus has his work cut out for him to allow PayPal to keep the edge it has always enjoyed.