Bangkok--16 Apr--Vero Public Relations
PayPal, an eBay company, today announced that it has hired Farhad Irani to lead the company’s business in Asia Pacific. Reporting to Philipp Justus, PayPal’s senior vice president of global markets, Farhad will manage PayPal’s domestic and cross border business in all of Asia Pacific. Farhad will be based out of PayPal’s international headquarters in Singapore.
Asia Pacific is one of PayPal’s fastest growing regions with more than 12 million PayPal accounts. PayPal currently offers its services in five Asian languages including Indonesia Bahasa, Japanese, Thai, and simplified and traditional Chinese. The service supports payments from 190 markets in 19 global currencies, including local currencies such as the Australian Dollar, Hong Kong Dollar, Japanese Yen, Chinese RMB, New Zealand Dollar and Singapore Dollar.
“Currently 45 percent of PayPal revenues come from outside of the US, and we expect the business to continue to grow in the coming years,” said Philipp Justus, senior vice president of global markets at PayPal. “We’re thrilled to welcome Mr. Irani as an industry veteran with the local market expertise to unleash PayPal’s potential in Asia Pacific.”
Farhad joins PayPal from Standard Chartered in Singapore where he was global head of credit cards and personal loans. A native of India, Farhad has more than 25 years of experience in retail banking and credit cards and has lived and worked in Hong Kong, India, Indonesia, Korea and Japan prior to settling in Singapore.
About PayPal
PayPal is the faster, safer way to pay and get paid online. The service allows members to send and receive payments without sharing financial information, with the flexibility to pay or get paid using a variety of secure payment options, including account balances, bank accounts (in approved countries), credit cards or promotional financing. With more than 70 million active accounts in 190 markets and 19 currencies around the world, PayPal enables global ecommerce.
In the U.S., PayPal is the most preferred payment service on the Web after Visa. In the UK and Australia, PayPal is the most preferred payment service on the Web. (Source: PayPal Brand Tracker Q4 08 and Nielsen Consumer Report 2H 2008)
PayPal’s Total Payment Volume, the total value of transactions in 2008 represented nearly 9 percent of global e-commerce. (based on Forrester estimates of US e-commerce with the addition of eBay Inc. internal metrics totaling $256B)
PayPal is headquartered in San Jose, California. Its international headquarters (PayPal Private Limited) are located in Singapore.
PayPal is an eBay company. More information about the company can be found at www.paypal.com.
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