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PayPal President David Marcus on the company’s expansion beyond its online presence to work with retailers across the country.
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Online payment -- PayPal expanding its business model and moving into the brick and mortar stores which sounds like it's going backwards.
-- -- just he's -- into the new president of paid out of find out more about their new venture offline -- out.
Thanks Tracy -- -- get right into it we're joined now by the very.
I David mark yes Susan new head to PayPal thank you for joining us today -- -- Thanks for having -- it.
You are fresh off the stage of heavy huge shopping at -- show Casey just presented on the West Coast -- viewers what you just announced.
Well we've announced a couple of things here first of all we've announced fifteen new retailers that have signed up -- us for offline including you know.
Big brand names like Abercrombie.
-- -- -- -- -- And and twelve others.
And what we've also announced today as a partnership with point of sale manufactures.
That can think integrate our pay bow checking to pay experience -- and that's big for small businesses that were present a third of our economy.
And and we're going to be rolling that out to 50000 plus stores across the country.
David you know what you talk about those is a lot and the waste solutions for the brick and mortar industry I guess that implies that there are issues are problems within that industry what is it that you're trying to solve here.
What we're trying to help retailers compete with you know and an ongoing online in -- president's right that's.
It's really hard there's a new normal for shopping today and a lot of the retailers are becoming -- cases where people.
-- -- the dial up and get get recommendations.
To what what to buy and venues are Smartphones and and buy it online so we're helping retailers serve their consumers a lot better.
By knowing them.
When they walk into their stores and and enabling them to pay safely out with more convenient sales.
We -- word we're doing basically the same thing we did online on mobile.
For the past ten years and bringing it offline.
But David what so much what people talked about in the online space is a growth trajectory in your dominant 60% according -- your recent study that I said.
-- that I -- of web transactions are dominated by PayPal is -- taking a step back is the opportunity as robust in traditional brick and mortar.
It's very at seventeen times bigger than the total opportunity we have online -- it's it's huge.
And today shoppers want to shop you know on their computer on their mobile device and also offline and they want this to be a seamless experience across multiple devices and so we're trying to bring that.
To retailers so that there shoppers all around the world can actually start their shopping journey on their mobile phone and pick it up at a store.
Or you know -- in the store and if they don't find some finger size -- they can click a button on their mobile device and have -- -- at home and and give the flexibility to both retailers and and consumers.
Meg giving him a lot more dangers choices as well David no excuse not to buy that -- she is whether your in this story -- out as I didn't.
Now -- let me ask you before I let ego I know that you are -- you were bred inside PayPal having worked with Scott Thompson.
Who left PayPal -- -- already -- who we know how that story went.
Any thoughts there and and an overall -- is stand that you're looking to put on PayPal as you now take over in this new chapter for the company.
Well -- -- very very focused now on consumers and consumer experience we really wants to bring the best possible shopping and payment experience in the world.
To -- 110 million users and growing.
And and that's what we're very focused on today.
40% of eBay's revenues derived from the division that you now -- and David market is -- new president -- PayPal thank you very much for being with us on this first on -- -- -- thanks very.
