JPMorgan Chase has hired Jack Stephenson as director of mobile, e-commerce and payments to expand mobile and internet payments services.

Mr Stephenson, who has been the senior vice president of strategy, partnerships, analytics and new ventures at PayPal, will lead the continuing evolution and implementation of a company-wide strategy for mobile devices and internet payments.

Stephenson has more than 25 years of experience in financial services, payments and e-commerce and was previously a director of McKinsey & Company, where he served leading banks, processors, networks, telecom operators and technology companies around the world.

Jay Mandelbaum, head of strategy and development at JPMorgan Chase, said: “We know how important technology has become in serving our customers well, and Jack has the experience, expertise and vision to help us do even more for them. He will focus primarily on developing new products and services for consumers, merchants and small businesses.”