Consumers doubled their use of Bill Me Later in Q4 2007

Consumers more than doubled their use of the Bill Me Later deferred billing service in the fourth quarter of 2007, compared to the fourth quarter of 2006, the company reports.

During the fourth quarter, toy purchases using Bill Me Later grew 131% from 2006’s fourth quarter, while travel buying rose 67% and purchase of female fashions grew 128%, according to the company.

“Bill Me Later represented a significant percentage of our sales for the 2007 holiday season,” says Michael J. Wagner, CEO of the Parent Co., which owns eToys. “The convenient service in conjunction with flexible payment options allowed eToys to offer a variety of pricing promotions during our critical season. We continue to experience increased sales and higher average order values from consumers who come to us through Bill Me Later.”

A recent study from Brulant found that Bill Me Later had the highest merchant adoption rates among all the major alternative payment services between February and December 2007. Consumers can make purchases with Bill Me Later at 700 retail web sites, Bill Me Later says.