Consumers Can Now Get Billed Later for eBay Purchases

eBay and PayPal Announce Integration of "Bill Me Later"

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eBay and PayPal announced today that they are now offering Bill Me Later as a payment option during checkout. This means that "qualified" customers in the U.S. can now buy items and pay for them over time without using a credit card.

The option will be available for Buy It Now and approved auction purchases on eBay. It is also available at "tens of thousands" of online stores that accept PayPal Express Checkout.

"Bill Me Later is the perfect complement to PayPal and eBay," said Sam Shrauger, vice president of global product strategy for PayPal. "By offering Bill Me Later as part of the PayPal payment service, customers now have the choice to buy the items immediately and pay for them when they want with Bill Me Later’s flexible financing options."

Bill Me Later

"Bill Me Later provides a great e-commerce experience for eBay buyers and sellers, and we’re excited to give our customers an easy, safe new way to pay just in time for the busiest shopping season of the year," said Dinesh Lathi, vice president of buyer and seller experience of eBay Marketplaces.

eBay says that the Bill Me Later feature will increase sales and create higher average order values by giving consumers options like no payments for 90 days. To use it, consumers just select "Bill me Later" as their payment choice and enter information like their birthday and last four digits of their social security number.

eBay says Bill Me Later uses a real-time credit model to make decisions about credit within seconds, so consumers don’t have to complete a lengthy application prior to making a purchase. PayPal customers will be able to access their Bill Me Later statements directly from their PayPal accounts, with the option to pay their Bill Me Later balances with PayPal.

eBay bought Bill Me Later about a year ago for about $820 million in cash and $125 million in outstanding options. Now we are seeing it become integrated into eBay’s business.

Consumers Can Now Get Billed Later for eBay Purchases
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  • http://BuckeyePlanet.net Steve

    I like the ideal a lot especially with Christmas just around the corner. Could be a nice boost to the bottom line.

  • http://queensoccer.ecrater.com/ Sunnyshine

    “Bill me later” will help people to shop more convenient and have the purchasing decision easier. However, this feature will let people to lose saving discipline as they think they can pay later.

  • http://www.elbrusconsulting.com David Patterson

    Small detail I learned after having some discussions with Bill Me Later and eBay. You cannot use Bill Me Later UNLESS you have a PayPal credit card on eBay (at this time, may change in the future). I only have a PayPal debit Card to use funds on my PayPal account and PayPal ACCIDENTALLY sent me a promotion for a Bill Me Later offer from Wet Seal, Tech for Less, and some other company.

    After attempting to use the promotion, and wasting 30 minutes on the phone to try to understand what I was missing, a PayPal customer service rep let me know that I had received the e-mail in error since I only had a debit card & I could not use the promotion.

    This proves that even the big guys can really screw up an e-mail campaign if they don’t have theor e-mail list segmented properly.

    Better luck next time boys.

    David Patterson

  • Play Fair

    With the new Rolling Reserve from paypal, holding sellers money up to now 40% for 180 days in most cases, eBay is now pushing the monopoly button. Paypal has changed the User Agreement more than 70 times in the last 3 months and buyers are not able to use credit cards anymore as form of payment without having to open a paypal account. So look at this, eBay tells buyers that they can protect the purchase if they use paypal only, now it will be bill me later, which is essentially the same thing, so sellers are forced to take these payments as buyers fear that their purchase will not be protected if they use a credit card or any other form of payment.
    Paypal or Bill me Later are not regulated financial institutions, which means, your money, your transactions are not really protected from them, to their eyes, they apply rules as if they were laws and honestly I really think that people are getting tired of getting screwed by financial institutions. Currently paypal is holding more than 100 million dollars a month for the Rolling Reserve which gives no interest to the accounts being affected. No guarantee of how long will that last or even any kind of guarantee that states that the money will be given in full. I really encourage people to somehow minimize the use of these services so they feel the need to attract users instead than users feel that those are the only 2 choices which can protect their purchase, mainly outside eBay, do not use paypal or bill me later. Then again, if you don’t have the money, you shouldn’t been using bill me later, trust me, they are not free and you can google all paypal and bill me later issues people have to deal with every day. I wonder if webpronews will ever do an article in the Rolling Reserve. Thank you

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