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Facebook Taps David Marcus to Lead Payments Initiatives
Marcus will continue running Libra's Novi digital wallet as he takes on Facebook Financial.
By Danny Nelson
Updated Sep 14, 2021, 9:42 a.m. Published Aug 10, 2020, 8:02 p.m.
Facebook formed a new payments group called "Facebook Financial" on Monday and put Novi wallet executive David Marcus at the helm.
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- Marcus, who co-created the Libra stablecoin, said via tweet that he will continue running Facebook's Novi digital wallet subsidiary.
- The restructuring will allow the social media giant to better integrate its Messenger, Instagram and WhatsApp payments operations, Bloomberg reported.
- “It felt like it was the right thing to do to rationalize the strategy at a company level around all things payments," Marcus told Bloomberg.
- Former Upwork CEO Stephane Kasriel will serve under Marcus as Facebook's new payments vice president.
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