Kingsboro, founder of the Blackhawk Network
Beijing time on March 10, according to foreign media reports, EBay's online payment business PayPal announced that the company has hired the world's leading consumer and corporate prepaid and financial payment products provider Blackhawk Network founder Dan Kingsbo Don Kingsborough is responsible for the company's credit card payment business and is using it to enter the physical store credit card consumer market.
PayPal, based in San Jose, Calif., said that Kingsboro will be responsible for the company's expansion into the retail card consumer market in the second half of this year. Kingsboro has successfully led Blackhawk to design and develop prepaid gift card services for a number of retailers including chain supermarket operator Safeway.
PayTal President Scott Thompson said in an interview: "We are trying to provide users with a new shopping experience, which is different from the previous shopping experience. This requires us to revolve around POS (point-of-sale) credit card consumer rebuilds the retail payment system. Because of the background in Blackhawk, Kingsboro is the person we are looking for to carry out this business."
As an online shopping payment system for EBay, PayPal has made a name for itself. Transactions using PayPal on EBay account for approximately 70% of the total number of transactions. In order to expand the company's profitability, PayPal will target the two markets of consumers who use mobile devices and physical stores that are controlled by Visa and MasterCard.
Thompson said that PayPal plans to launch a redesigned POS machine consumption system at a major retailer's physical store this year, and the card-swapping device with the system will be placed side by side with the cash register.
Tom Noyes, a StarPoint LLP banking consultant, said: "The physical store POS card spending will become the next battleground for payment service providers. Now, both Visa and MasterCard have begun to notice that PayPal brings them a huge threat."
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