SmartBargains Offers Customers the Power to Buy Now, Pay Later
Bill Me Later Payment Method Delivers Increased Buying Power, Flexibility and Security for Online Bargain Hunters
TIMONIUM, Md.––June 7, 2005––I4 Commerce, the leading provider of alternative payment solutions for multi-channel retailers, today announced that SmartBargains, an online shopping adventure for value-driven consumers, is offering the Bill Me Later service to its online customers. With Bill Me Later, SmartBargains shoppers have a new payment option that offers increased purchasing power, the convenience to buy now and pay later, and the security of buying online without having to enter sensitive credit card information.
SmartBargains is a leading online retailer of high quality, excess merchandise offered at up to 70 percent off everyday retail prices. The company sells thousands of brand name and high quality products ranging from apparel and electronics to jewelry and home goods. The company is committed to providing its customers with a seamless online buying experience and the best possible solutions for their purchasing needs. SmartBargains chose Bill Me Later to provide customers a convenient and secure option for buying products online without having to insert their credit card account number. To further leverage the Bill Me Later program, SmartBargains is currently utilizing promotional financing that enhances the shopping experience by allowing customers to complete their purchase now and pay nothing for 90 days.
“SmartBargains is dedicated to offering the best possible bargain shopping experience available online and Bill Me Later had proved itself to be a valuable payment option for our customers,” said Mark Weinberg, Vice President of Business Development for SmartBargains. “Since we began offering the Bill Me Later service, SmartBargains has experienced a higher average ticket on Bill Me Later transactions and new customer acquisitions; a significant number of which come to us directly through the Bill Me Later merchant network. The result is that we have been able to further differentiate ourselves in an increasingly competitive retailing environment.”
The Bill Me Later service is a convenient and secure payment method for customers making purchases online or via the telephone who do not have a credit card on hand or, for security reasons, prefer not to give out credit card information. Consumers using Bill Me Later simply provide some basic information, including date of birth. Within seconds, qualified customers gain online authorization for their purchase, receive a bill from Bill Me Later within 14 days and have the option of paying in full or financing their purchase over time.
“Retailers such as SmartBargains are realizing that customers prefer the choice of multiple payment options and that providing these options drives customer satisfaction and loyalty,” said Gary Marino, CEO of I4 Commerce. “An important element of any retailer’s growth strategy, Bill Me Later’s combination of security and buying power encourages customers to complete their online purchases which directly results in increased sales.”
About SmartBargains
SmartBargains is a leading online retailer of high quality, excess merchandise offered at up to 70% off everyday retail prices. The company provides a constantly changing assortment of thousands of deals on its website, allowing customers to conveniently and confidently purchase merchandise without having to travel to disparate retail locations. For suppliers, SmartBargains offers a single source for product disposition, reducing the need to use multiple distribution channels for the sale of excess inventory.
SmartBargains is dedicated to offering the best possible bargain shopping experience available online. Our commitment to the customer`s experience begins with the web site and continues through to the purchase with state-of-the-art fulfillment and highly responsive customer service. Customers consistently give SmartBargains high marks in customer satisfaction and service.
About I4 Commerce
Through its flagship product, the Bill Me Later® Payment System, I4 Commerce provides an innovative payment option for businesses and consumers. Bill Me Later improves the overall buying experience at the point of sale both online and via the telephone. Retailers offering Bill Me Later attract new customers, increase average order value, increase repeat usage and lower transaction costs. More than 700,000 consumers enjoy Bill Me Later’s unique combination of convenience, security, buying power and flexibility that enables them to make online purchases without pre-enrollment or giving out credit card information. Through I4 Commerce’s payment alliances, Bill Me Later can be offered by more than 70 percent of merchants without any change to their existing infrastructure. Bill Me Later is the first new payment method since credit cards to be so broadly available within the United States. For more information, visit www.i4commerce.com.
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