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Reuters
Reuters
Business

Former Paypal executive to lead Facebook Pay

Facebook Inc <FB.O> named former PayPal Holdings Inc <PYPL.O> executive Stephane Kasriel to lead Facebook Pay, a company executive said on Monday.

The social media giant will also create a new group to look after its payments-related initiatives, including Facebook Pay and WhatsApp payments, David Marcus, co-creator of Facebook's Libra cyrptocurrency project said in a tweet. (https://bit.ly/31AC8sJ)

Kasriel was also the former chief executive officer of freelance marketplace Upwork Inc <UPWK.O>, according to his LinkedIn profile.

Facebook did not immediately respond to a request for comment.

(Reporting by Ayanti Bera in Bengaluru; Editing by Shounak Dasgupta)

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