Amazon.com Adds Bill Me Later, Also Invests
Amazon.com has announced it has signed an agreement with Bill Me Later to make the Bill Me Later payment option available on the Amazon.com website. Amazon.com also announced that it is making an equity investment in Bill Me Later, Inc. Note that Bill Me Later is not yet available on the Amazon.com web site - "the companies are working closely together to make the service available as soon as possible..." An FAQ is available.
“Bill Me Later has developed a very customer-centric method to make online shopping even easier,” said Matt Swann, vice president of payments at Amazon.com. “We are pleased to make the convenience of Bill Me Later available to our tens of millions of Amazon customers.”
Bill Me Later is among the most widely adopted alternative payment technologies for the largest online retailers. Bill Me Later enables consumers to shop online without using a credit card and helps retailers simplify the payment experience.
“Amazon.com and Bill Me Later share the same commitment to making shopping easy for consumers,” said Gary Marino, CEO of Bill Me Later. “Just as Amazon invented a new and better way for people to shop online, Bill Me Later has created a new and better way for people to pay for purchases online.”
The terms of Amazon’s investment have not been disclosed. The transaction, which is subject to customary closing conditions, is expected to close in the first quarter of 2008.
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