PayPal Names Scott Thompson Senior Vice President and Chief Technology

    Business Editors

    SAN JOSE, Calif.--(BUSINESS WIRE)--Feb. 7, 2005--PayPal, the global online payment service, today announced that Scott Thompson has joined the company as senior vice president and chief technology officer. Thompson, who brings more than 20 years of experience to the position, will report to PayPal President Jeff Jordan and eBay (Nasdaq:EBAY) Chief Operating Officer Maynard Webb.
    In his new role, Thompson will oversee information technology, product development and architecture for PayPal, which transacted more than $18 billion in total payment volume and processed about 340 million payments in 2004.
    "Scott is one of the most respected technology professionals in the financial services industry, and we are thrilled that he is joining the PayPal team," said Jeff Jordan, president of PayPal. "Scott's expertise will help lead PayPal to our ultimate goal of becoming the global online payments standard."
    Thompson comes to PayPal from Inovant, a subsidiary of Visa formed to oversee global technology for the organization. As executive vice president of technology solutions at Inovant, he was responsible for all development, support and maintenance of Visa's global payment system, which processed tens of billions of transactions in 2004. Prior to Visa, Thompson was chief information officer of Barclays Global Investors, where he implemented a new strategic technology platform and global infrastructure.
    Thompson will replace Chuck Geiger, vice president and chief technology officer for PayPal. Geiger decided to leave the company after five years with eBay and PayPal. During this time, he helped to define the scalable and reliable infrastructure on which eBay runs. Geiger joined PayPal in March of 2003, where he increased engineering capacity ten-fold and was instrumental in building the architecture that enabled PayPal's explosive growth.

    About PayPal

    Founded in 1998, PayPal, an eBay company, enables any individual or business with an email address to send and receive payments online securely, easily and quickly. PayPal's service builds on the existing financial infrastructure of bank accounts and credit cards and uses one of the world's most advanced proprietary fraud prevention systems to create a safe, global, real-time payment solution. PayPal has more than 63 million account members and is available to users in 45 countries around the world. More information about the company can be found at https://www.paypal.com/.

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CONTACT: PayPal Inc. Sara Bettencourt, 408-967-2382 sbettencourt@paypal.com

KEYWORD: CALIFORNIA INDUSTRY KEYWORD: BANKING CONSUMER/HOUSEHOLD INTERNET E-COMMERCE MANAGEMENT CHANGES SOURCE: PayPal Inc.

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