Paypal's retail chief steps down

Paypal executive Don Kingsborough, who helped orchestrate the payments company's move into physical retail stores, stepped down in January, the company said on Wednesday.

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 nationwide.

In a statement, spokeswoman Amanda Miller said PayPal, which is slated to split from eBay Inc later this year, will keep testing and investing in various in-store payments systems.