PayPal is joining the ranks of businesses looking to build new revenue streams off its wealth of data, and has flagged its intentions to create a new advertising platform with a reshuffle in its leadership team to drive the new offering.

Mark Grether has been appointed as SVP, General Manager, PayPal Ads, and John Anderson as SVP, General Manager, Consumer Group. Both Grether and Anderson will report to Diego Scotti, EVP, General Manager, Consumer Group and Global Marketing & Communications.

The new advertising platform is set to leverage PayPal's relationships with millions of consumers and merchants. The company said its aim is to create a dynamic, personalised platform that will drive better advertising spend performance for merchants and provide consumers with compelling offers.

Grether, with over 20 years of experience in the advertising industry, previously served as the Vice President, General Manager of Uber Advertising, led the product strategy for Amazon's advertising business, and was the CEO of Sizmek. He's tasked with building the ad business, which is expected to include a PayPal advanced offers platform that delivers personalised offers to consumers.

"Commerce and advertising are deeply connected, and we believe that the advertising platform we are building at PayPal will become a must-use marketing channel for merchants big and small. I'm thrilled to have Mark join our team and lead this important work," said Scotti.

Anderson, with over 20 years of experience at the intersection of technology platforms and payments, has previously served as Head of Product and Payments at Plaid, and held numerous product and leadership roles at Meta, including Head of Product for Oculus, Head of Facebook Japan, and Head of product and operations teams for Payments, Commerce, and Risk.

"John brings strong experience in developing groundbreaking, personalised consumer experiences to PayPal, which will drive relevance of our brands, fuel our innovation pipeline, and give more reasons for consumers and merchants to choose PayPal", Scotti said.