It has been almost six months since Don Kingsborough left his high-ranking post at PayPal.
Now the retail and payments veteran has moved on to credit-card lender and diversified bank Capital One as part of a team focused on investing in and acquiring startups, Re/code reported Wednesday (July 22).
While holding the title of Retail Chief at PayPal, Kingsborough spearheaded the initiative to transition PayPal into a payment method option within brick-and-mortar stores, the status of which left Kingsborough feeling somewhat unsatisfied upon his departure from the company earlier this year.
“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,” Kingsborough explained during an interview with Re/Code back in February.
“I’m an entrepreneur,” Kingsborough added, “but I’ve been spending a lot of my time as a big company executive and really feel as though what feels like home is being entrepreneurial.”
Kingsborough may have another chance to experience that entrepreneurial sprit in his new position at Capital One.
Kingsborough will act as the managing director of the company’s Ventures group, which he told Re/code was an intriguing offer based on the company’s reputation of aggressively adapting to the world of digital and mobile banking.
“They are going to make a bold move to be a tech company at the same time as a bank, be a consumer company at the same time as a bank, and to be an innovator in terms of new services at the same time as a bank,” he said. “All of those things really surprised me and made it extraordinarily attractive.”
The company has proven its interests in innovative payments technologies, which may underpin Captal One’s desire to bring on a resource like Kingsborough.
Through strategic partnerships, such as the one the company recently announced with payments processing service provider Vantiv, Capital One is preparing to expand its offerings in new ways.
“Capital One is committed to providing the most innovative technologies to our business customers,” said Capital One Bank Head of Treasury Management and Enterprise Payments Colleen Taylor in a statement. “By partnering with Vantiv, our clients will now benefit from Vantiv’s industry-leading payment tools and services, which are designed to help them focus on what they do best — running and growing their businesses.”