As Layaway Grows in Popularity, More Merchants Are Using eLayaway to Manage Their Programs
TALLAHASSEE, Fla., Feb 01, 2011-- eLayaway, Inc. (TICKER:ELAY), the Internet's first and only patent pending layaway payment processor, announced today that January 2011 saw the Company's biggest increase in merchant acquisitions and new merchant inquiries. Although only twelve new merchants were chosen to join the eLayaway network last month, the diversity of their offerings will provide eLayaway members with more variety and some unique niche products. Backyard Discovery (swingsetsonline.com) and eSpecial Needs (eSpecialNeeds.com), both new eLayaway merchants for 2011, are perfect examples of how eLayaway can serve markets beyond those traditionally served by layaway programs of the past.
"We chose eLayaway as a payment option for our customers for two reasons," said Thomas Reed, eCommerce Manager for Backyard Discovery. "First, it gives our customers the ability to buy a bit bigger swing set than one month allocation of funds might allow. For each $100 more they spend, the kids get more play features and more engaging play time -- better value! Second, eLayaway gives parents a more flexible way to pay that keeps their budget healthy. So in a way, eLayaway gives both kids and parents `healthy play time!'" continued Reed.
For these new eLayaway merchants and the rest of the over 700 in the eLayaway merchant network, the month following the busy holiday shopping season is more than just the beginning of a new year. It is a chance for them to reinvent themselves and the way they serve their customer. While other merchants do this by launching a new marketing campaign, eLayaway merchants have the added advantage of offering what customers need most...an affordable and flexible way to pay for the things they want most
"It's a true win-win-win," said Sergio Pinon, eLayaway's Founder and Chief Marketing Officer. "It's a win for our members who are looking for an affordable alternative to credit, a win for our merchants who are looking for better, more fiscally-responsible ways to serve their customers and finally, a win for eLayaway as we continue to innovate ways to help retailers and customers alike," continued Pinon.
How eLayaway Works for Consumers
eLayaway is an online payment system that allows consumers to pay for the products and services they desire using manageable periodic payments, thereby making purchases affordable and easy to budget. Payments are automatically drafted from the consumer's designated bank account via Automated Clearing House ("ACH") on the modifiable schedule set by the consumer at the time of purchase. A flat transaction fee as low as 1.9% is charged to the consumer and all payments are held in an account in trust at HSBC Bank and transferred to the merchant once full payment has been made. Like traditional layaway programs of the past, delivery of the product or service occurs once payment is complete. Payment processing and supporting services are handled by eLayaway while merchants provide order fulfillment.
How eLayaway Works for Merchants
For many online merchants, eLayaway offers an opportunity to provide layaway to their customers as a means to expand market share while reducing the administrative requirements of traditional layaway. Merchants are now turning to payment alternatives such as eLayaway in order to take advantage of opportunities that increase sales and profits. Today, approximately one-half of all consumers do not qualify for credit. eLayaway provides an alternative payment method that allows these consumers to make the purchases they desire while enabling merchants to sell additional products on an immediate basis.
In addition to eLayaway.com, the Company also owns and operates eLayawaySPORTS.com, eLayawayTRAVEL.com and eLayawayHEALTH.com. eLayaway, Inc. was founded in 2005.
AI
