New Payment Option Allows Consumers to Shop Now and Pay Later
SAN JOSE, Calif. – June 25, 2008 – Just in time for the summer shopping season, Overstock.com, Inc. (Nasdaq: OSTK) is giving shoppers the ability to shop now and pay later with the promotional financing service, PayPal Pay Later.
“Since launching in Q4 of last year, PayPal has continued to add value to our website and our customers. Adding PayPal Pay Later as an additional way to pay allows us to continue to give our customers the best options at the best value,” Patrick Byrne, chairman and chief executive officer of Overstock.com.
The PayPal Pay Later service gives Overstock.com customers a credit account with flexible financing options - even if a buyer doesn`t have a PayPal account. As part of the introductory financing promotion, customers can defer payments on purchases for 90 days, allowing consumers to buy what they really want on Overstock.com and plan their payments in a way that best fits their budgets.
“Overstock.com offers consumers access to great online deals for brand-name merchandise,” said Chris George, senior director of financial products at PayPal. “We are excited to give Overstock.com shoppers even more ways to pay for purchases with the security and convenience of PayPal.”
Overstock.com, Inc. is an online "closeout" retailer offering discount, brand-name merchandise for sale over the Internet. The company offers its customers an opportunity to shop for bargains conveniently, while offering its suppliers an alternative inventory liquidation distribution channel. Overstock.com, headquartered in Salt Lake City, is a publicly traded company listed on the NASDAQ Global Market System and can be found online at http://www.overstock.com.
Overstock.com is a registered trademark of Overstock.com, Inc. All other trademarks are the property of their respective owners.
PayPal is the safer, easier way to pay and get paid online. The service allows anyone to pay without sharing financial information and gives consumers the flexibility to pay in any way they prefer, including through credit cards, bank accounts or account balances. With more than 60 million active accounts in 190 markets and 17 currencies around the world, PayPal enables global ecommerce. PayPal is an eBay company. More information about the company can be found at https://www.paypal.com.
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, statements regarding the number of new users offered to PayPal and the level of increased online exposure for PayPal, special incentives Overstock.com will offer to PayPal users, as well as all such other risks as identified in our Form 10-K for the year ended December 31, 2006, and all our subsequent filings with the Securities and Exchange Commission, which contain and identify important factors that could cause the actual results to differ materially from those contained in our projections or forward-looking statements.