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Short on Funds? eBay Tempts Shoppers with BML Financing

Don’t have ready cash to pay for your holiday purchases? eBay hopes you’ll consider using its financing service Bill Me Later. This week, it sent an email to eBay customers with an offer to tempt them by tying it into its shopper loyalty program.

eBay shoppers who received the email invitation could earn an extra 1% plus $10 in eBay Bucks on their first purchase with Bill Me Later, subject to credit approval. They must make a purchase of $99 or more on eBay with Bill Me Later or choose Bill Me Later when they checkout with PayPal by December 31, 2013.

But beware – those who don’t pay off the balance in full within 6 months will pay interest at an Annual Percentage Rate (APR) of 19.99%, including the accumulated deferred interest – the minimum interest charge is $2. “If approved, Comenity Capital Bank will extend credit to you for the amount financed to pay for your purchase,” eBay explained in the fine print. “Comenity Capital Bank will pay the merchant on your behalf for the purchase.” Late fees of up to $35 apply.

eBay disclosed in a regulatory filing that Federal regulators were probing Bill Me Later for potential consumer abuses associated with its money-lending practices, and it has previously come under fire for charging deferred interest. eBay acquired Bill Me Later in 2008.

eBay Bucks is eBay’s loyalty program – users must enroll in the program with a U.S. registration address that is tied to an eBay account and have a valid PayPal account or have successfully signed up for a valid PayPal account and such account is in good standing.

Only those invited can qualify for the eBay Bucks offer. Certain categories and item types are excluded from the promotion, read all terms and conditions on the Bill Me Later website.

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Ina Steiner
Ina Steiner
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.