for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Former Paypal executive to lead Facebook Pay

(Reuters) - 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.

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

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up