David Marcus, vice president of messaging products for Facebook Inc., speaks during a Bloomberg Television interview on the sidelines of the Wall Street Journal D.Live World Technology Conference in Laguna Beach, California, USA, on Wednesday, October 18, 2017.
Patrick T. Fallon | Bloomberg | Getty Images
Facebook is bringing in former PayPal executive Stephane Kasriel for Facebook Pay, its Venmo-like service, Facebook cryptocurrency chief David Marcus said Monday.
Facebook is also forming a new team that will oversee the handful of payment services that Facebook has announced in the past year, in a move that could help bring its family of apps even closer.
Facebook did not immediately respond to a request for comment.
Facebook has continued to win in the payment space over the past year. The company launched Facebook Pay, which allows users to send money across their family of apps, on Facebook proper and Facebook Messenger last November. It intends to roll out Pay broadly in the US on Instagram in the coming weeks, and is currently testing Pay on WhatsApp in Brazil.
Facebook also supports a digital payment system called Libra, with the intention of making it easier for people to send money around the world. While Libra will be run by a non-profit association, Facebook will be able to take advantage of Novi, a digital wallet for storing and exchanging digital currency.
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