PayPal President's Credit Card Info Stolen

Making lemonade out of a situation wherein his credit card info was stolen in the UK and the thief went on a shopping spree, PayPal president David Marcus took the opportunity to preach the gospel of PayPal.

“My card (with EMV chip) got skimmed while in the UK. Ton of fraudulent txns. Wouldn't have happened if merchant accepted PayPal…”, he tweeted. He believes that his card was probably skimmed at the hotel where he was staying, and he further tweeted that if the hotel had offered PayPal as an in-house payment option, the theft would not have occurred. “Obfuscating card data online, on mobile, and now more and more offline remains one of PayPal's strongest value props,” reads his second tweet on the matter.

cards with EMV chip
(Credit: Welch ATM)

You’ll note above that he also took the opportunity to take a shot at Europe’s EMV chip, a technology embedded in credit and debit cards that’s supposed to add a level of security (as well as global interoperability).

However, in a reply to a Twitter follower, he admitted that to be fair, “It's the mag stripe that most likely got cloned. Not chip.”

It kind of sounds like he was just angry at having his credit card info stolen and wanted to lash out, and he did so in a creative way.