Credit provider Bill Me Later gets into the private label card business

Online retailers that use I4 Commerce’s Bill Me Later payment services will now be able to offer a proprietary credit program through I4. Ross-Simons, a Rhode Island-based multi-channel retailer that sells jewelry and household items, is the first retailer to use the service by offering its Ross Simons Preferred Customer Card.

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Customers will be able to apply for the card online, via telephone or at Ross-Simons stores. The card will offer 10% off the first in-store purchase as well as free shipping for the first online or catalog purchase. Customers will have access to the same deferred billing and promotional financing programs as offered by Bill Me Later. Preferred Customer Card holders will also get special services such as free jewelry cleaning. Ross-Simons was able to use existing payment software from I4 to run the proprietary program. The private label program is also integrated into the payments processing services of Paymentech LLC.

I4 has offered the Bill Me Later program to online and catalog retailers as an alternative credit payment to conventional credit cards. Retailers typically pay I4 a lower fee than the discount rates changed by most credit card companies. The program also offers another payment alternative to consumers who do not want to use their credit cards to pay for goods purchased online.