The Timonium (Baltimore) based Bill Me Later allows customers to pay later for items purchased at more than 1,000 online retailers, including Amazon.com and Walmart.com, without entering credit card information. Instead, the customer fills in his or her birth date and the last four digits of the Social Security number.
The company uses its proprietary underwriting system to approve each transaction, which takes about three seconds. It picks up the tab and is repaid by the shopper. If customers carry a balance at Bill Me Later, they incur interest charges.
Bill Me Later has attracted large retailers, including 75 of the top 200 brand names, and nearly 4 million consumers.
The big question is - will Amazon.com, one of Bill Me Later’s biggest customers, abandon the relationship now that eBay owns Bill Me Later.
It is no secret that Amazon.com is not a friend of eBay but so far has been non-committal about its plans to continue using Bill Me Later.
Amazon.com issued this statement: “Currently, Bill Me Later is still available as a payment option on our site, but I can’t speculate as to whether we’ll continue to offer them going forward.”
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