David Marcus (left) in front the U.S. Department of the Treasury, along with eBay Inc.'s Ali Gabel and PayPal's Marsha Reeves and John Muller.
PayPal President David Marcus was in the nation's capital this week to meet with government officials. During the meetings, Marcus offered the company's vision for growth, especially through the lenses of consumer benefits, the prevalence of mobile and how the competitive environment will develop. The visit was an opportunity to showcase how PayPal -- as an industry leader in mobile -- is uniquely positioned to leverage its wealth of technology and insights to create new commerce experiences for customers, such as new ways to make the way people pay simple, easy and safe.
For 14 years, PayPal has been revolutionizing the payments industry -- first with online payments in 1998 and then with mobile payments in 2006. Marcus emphasized to officials the company's belief that without trust, the Internet and mobile marketplaces will fail to reach their full potential. Security and trust are mutually reinforcing, and it is hard to build consumer trust without ensuring the safety and security of a consumer’s personal information, whether it is financial data or transaction history. PayPal successfully handles almost 9 million transactions a day, Marcus said, and the beauty of PayPal is that it allows consumers to send money or pay for a good or service without ever having to expose their credit card or bank account information to merchants or other PayPal users.