Page 38 - Pay Magazine s2014
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Stephen Fusco
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After working as a nancial adviser and Citi executive, Steve Fusco joined online payments processor PayPal in 2011, where he is vice president and general manager of distribution,
North America. That job has him working with major e-commerce platform providers to integrate PayPal into their online store o erings. After last year’s spino from eBay, PayPal revenue increased worldwide 16.9 percent year-over-year in the fourth quarter of 2015. With PayPal continuing to grow, Fusco talks about how his company plans to keep its edge as more shoppers turn to mobile while demanding greater convenience and security.
Paybefore: How would you describe the state of mobile commerce in 2016?
Steve Fusco: I just nished talking to a group of 50 MBA students this morning in Silicon Valley. It’s such an amazing moment right now. Things are changing so quickly. My point to these students was: You now have a global distribution of [mobile] technology, and there are more mobile-connected devices than humans on the planet. What does that mean for payments? Look at India, where the volume of mobile transactions will grow by 500 percent by 2018. Mobile is leap- frogging over other technology.
Paybefore: As payments and commerce continue to converge, what are the major hurdles?
SF: Two things are happening at the same time. On one hand, people want things to be simple and beautiful and easy and fast.
