SAN FRANCISCO -(Dow Jones)- The head of eBay Inc.'s (EBAY) PayPal unit said Tuesday that the online payments group was making "great progress" integrating recently acquired Bill Me Later, which enables online retailers to offer shoppers credit.PayPal President Scott Thompson said the first phase of the BML integration will be rolled out this summer, with the second phase due to be implemented by the first quarter of next year. He noted that PayPal's margins would take a slight hit over the next two years as a result of the integration, but margins would return to historical norms afterward.
Thompson made his comments at the Credit Suisse Global Media and Communications Convergence Conference, which was Webcast.
The San Jose, Calif., company last year bought Bill Me Later, saying it was a "perfect complement" to PayPal and would increase eBay's exposure to larger online merchants. BML's proprietary underwriting system tells shoppers within seconds if they're approved for credit, without detailed application forms.
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