EBAY ACQUIRES BILL ME LATER

Updated: 10/06/2008 15:30
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Hi blog readers Scott Thompson here, president of PayPal, with some exciting news to share Today, eBay reached a definitive agreement to

Hi blog readers. Scott Thompson here, president of PayPal, with some exciting news to share. Today, eBay reached a definitive agreement to acquire Bill Me Later. For those of you who don't know, Bill Me Later is one of the leading payment options on the Web. It's a great service that offers online transactional credit to customers at the point of sale. Check out this short video for more information on how it works.

Even in uncertain economic times, forward-looking companies invest in their future growth - and that's what today's announcement is all about. Bill Me Later brings remarkable assets to eBay and PayPal, including some of the most experienced professionals in the payments industry, an innovative product, a customer base of millions of online shoppers and about 1,000 of the largest e-commerce sites.

With Bill Me Later, PayPal gains a fabulous standalone business. But the opportunity that eBay, PayPal and Bill Me Later have together is nothing short of tremendous. By combining the best of PayPal and Bill Me Later, we can offer an even stronger service for consumers and merchants.

We will continue to operate PayPal and Bill Me Later as two separate business units, so customers won't see any changes through the holiday season. We expect the deal to close by the end of the year.

In the meantime, we hope you enjoy shopping on the thousands of online retailers who accept PayPal and Bill Me Later.


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