To expand its mobile and internet payments services, JPMorgan Chase has hired a payments industry veteran as director of mobile, e-commerce and payments.

Jack Stephenson joins from the online payment service PayPal, where we was senior vice president of strategy, partnerships, analytics and new ventures. He has more than 25 years of experience in financial services, payments and e-commerce, JP Morgan Chase said in a statement.

In his new role Stephenson will lead the continuing evolution and implementation of a company-wide strategy for mobile devices and internet payments.

"Rapid changes in mobile, internet, and information technology create opportunities to leverage these assets in new and exciting ways for customers," Stephenson said.

He will mainly focus on developing new products and services for consumers, merchants and small businesses, said Jay Mandelbaum, JPMorgan Chase’s head of strategy and development.