I4 Commerce Announces Partnership with Online Toy Retailer to Make Flexible, Convenient Payment Option Available for the Shopping Season
TIMONIUM, Md. & DENVER--Nov. 4, 2003-- I4 Commerce and KBtoys.com today announced the launch of the Bill Me Later(R) payment option on KBtoys.com(TM) (www.kbtoys.com), which offers thousands of the most popular toys and video games, and eToys (www.etoys.com), which features top toys and an incredible selection of learning and specialty toys. Customers of both sites can choose I4 Commerce`s Bill Me Later payment option at checkout. It`s a convenient and secure payment option that gives KBtoys.com and eToys customers greater payment choice, flexibility and security.
"Bill Me Later makes shopping with us even more convenient, and differentiates the buying experience on KBtoys.com and eToys," said Michael J. Wagner, senior vice president and COO of KB Online Holdings, LLC, which operates KBtoys.com and eToys. "And as a special benefit during the holiday shopping season, we`re offering our customers a 90 days same as cash option with Bill Me Later. Our customers can finish up their shopping early, and pay after the holidays."
Bill Me Later offers a secure alternative to credit cards. It`s an attractive option for shoppers looking for other payment options, consumers who are new to online shopping and customers who don`t have credit cards. I4 Commerce bills approved transactions to the customer within 15 days, and retailers receive funding immediately after shipping the order. By addressing consumers` need for more payment choice, flexibility and safety, Bill Me Later is proven to generate higher sales and profits for multi-channel retailers. Retailers using Bill Me Later report higher customer acquisition rates and more frequent repeat purchases compare to only offering credit cards.
"We are proud to add KBtoys.com and eToys to the Bill Me Later Merchant Network," said Gary Marino, CEO of I4 Commerce, "We saw a need in the marketplace for a payment product that could increase sales, enhance customer loyalty and reduce the dependency on credit cards for multi-channel retailers. This partnership is further proof that retailers also see the need and are ready to take action."
About I4 COMMERCE
I4 Commerce provides payment solutions to multi-channel retailers that make commerce more convenient, secure and profitable. The company has strategic relationships with the industry`s largest payment processors, including Paymentech and First Data Corporation (NYSE:FDC). I4 Commerce, a privately held company located in Timonium, Maryland, holds the patent pending rights to proprietary technology, information processing and payment processes used in conjunction with its flagship product offering; Bill Me Later, a payment solution that gives consumers an alternative to credit cards.
Denver-based KB Online Holdings, LLC owns and operates two of the most popular online toy sites. KBtoys.com(TM) (www.kbtoys.com) offers thousands of the hottest toys and must-have video games. eToys(R) (www.etoys.com) features an incredible selection of popular toys and video games, plus unique learning and specialty toys. KB Online Holdings, LLC is the online subsidiary of Massachusetts-based KB Toys, Inc., the nation`s largest combined mall-based and online specialty toy retailer.
Contacts I4 Commerce, Timonium
Mark Lavelle, 443-921-1904
KB Online Holdings, LLC, Denver
Sheliah Gilliland, 303-226-8685