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His departure, which tech blog Re/code first
reported, comes as the company competes with the likes of
fast-growing startup Square to get its payments system adopted
in more retail chains across the United States.
PayPal, which is slated to split from eBay Inc later this year,
will keep testing and investing in various in-store payments
systems, eBay spokeswoman Amanda Miller said in a statement.
Kingsborough was instrumental in PayPal's attempts to push
innovations such as in-store ordering and pickup and
physical-checkout payment at chains ranging from Home Depot Inc
to Jamba Juice.
But the company increasingly has had to contend with rivals such
as Square, which is popular with smaller businesses, and Apple
Inc's Apple Pay. Online commerce foe Amazon.com Inc is also
beginning to explore in-store payments.
It is unclear how much progress PayPal has made on that front.
eBay said it enjoys "a strong foothold in offline retail," but
analysts say it has been difficult for the tech companies vying
for checkout space to contend with the simple convenience of
debit or credit cards.
eBay did not say why Kingsborough decided to step down or where
he might be going. In an interview with Re/code, he said, “I
think we were able to move the needle, but I have to say I leave
a little frustrated in that I wish we as an executive team would
have done more.”
His departure comes as eBay prepares to lay off some 7 percent
of its workforce, or 2,400 jobs, including PayPal employees,
before the two companies split in the second half of 2015. That
move would create an autonomous, stand-alone PayPal that
analysts say could be worth some $40 billion.
(Reporting by Edwin Chan; Editing by Jonathan Oatis)
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