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EcommerceBytes-NewsFlash, Number 424 - October 29, 2002 - ISSN 1539-5065    2 of 3

Online Customers Tell Buy.com, Bill Me Later!

By Ina Steiner
October 29, 2002

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Buy.com Inc., an Internet store selling computers and consumer electronics, announced it has adopted a Bill Me Later payment option from I4 Commerce. Starting this holiday shopping season, Bill Me Later will offer Buy.com customers a new way to pay for items ordered on the Web or over the phone. After choosing Bill Me Later at checkout and agreeing to the terms, qualified buyers are instantly authorized for the amount of their purchase. I4 Commerce then sends the customer a bill that can be paid in full at no extra charge, or financed over time by making minimum monthly payments.

Management consulting firm A.T. Kearney states that one of the main reasons consumers abandon online shopping carts is their reluctance to enter credit card details (46% of responders citing). I4 Commerce's innovative new payment method is specifically designed for "card-not-present" merchants, including phone orders, mail orders and e-commerce transactions.

I4 Commerce provides payment solutions to merchants and has strategic relationships with payment processors Paymentech and First Data Corp.

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About the author:

Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.

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