Bill Me Later
Encyclopedia
Bill Me Later is a proprietary payment method offered on the websites of many well-known merchants, including those of Wal-Mart
, USPS, Best Buy
, Overstock.com
, American Airlines
, JetBlue Airways
, Jewelry Television
and Hotels.com
. The site, which offers consumers a line of revolving credit
through WebBank, allows purchases to be made online without using a credit card
. The company was one of the first recipients of the Red Herring Global 100 Award by the publication Red Herring
.
On November 7, 2008, eBay
subsidiary PayPal
completed its acquisition of Bill Me Later. It was formerly owned by I4 Commerce)
and their date of birth. The approved customer can then pay the bill by mail (check) or online (via bank account) at www.billmelater.com. The first time customers are emailed a link to register with billmelater.com - so that they can check their balances or pay their bill. Customers also get an email whenever they are declined. In cases when they are declined and they don't receive declined email/letter, they can contact Bill Me Later Customer Service to check if it was not a system issue. Bill Me Later isn't a credit card but the company will charge late payments just like a credit card company or bank without sending you a paper statement in the mail.
which is available to most e-commerce entities, Bill Me Later is only available to medium or large businesses. New merchants can request integration through a website operated by the company.
). In Bill Me Later Business, the users are business owners who want to use the equivalent of a corporate card for buying products and services over the web. The business owner would apply for Bill Me Later Business - using data like EIN etc. The Preferred Account is similar to the concept of a charge card - that can be used at a particular merchant only.
Wal-Mart
Wal-Mart Stores, Inc. , branded as Walmart since 2008 and Wal-Mart before then, is an American public multinational corporation that runs chains of large discount department stores and warehouse stores. The company is the world's 18th largest public corporation, according to the Forbes Global 2000...
, USPS, Best Buy
Best Buy
Best Buy Co., Inc. is an American specialty retailer of consumer electronics in the United States, accounting for 19% of the market. It also operates in Mexico, Canada & China. The company's subsidiaries include Geek Squad, CinemaNow, Magnolia Audio Video, Pacific Sales, and, in Canada operates...
, Overstock.com
Overstock.com
Overstock.com , also known by its shortcut, O.co, is an online retailer headquartered in Cottonwood Heights, Utah, near Salt Lake City. Founded in 1997 by Robert Brazell, under the name D2: Discounts Direct, it was a pioneering online seller of surplus merchandise which, upon its failure in 1999,...
, American Airlines
American Airlines
American Airlines, Inc. is the world's fourth-largest airline in passenger miles transported and operating revenues. American Airlines is a subsidiary of the AMR Corporation and is headquartered in Fort Worth, Texas adjacent to its largest hub at Dallas/Fort Worth International Airport...
, JetBlue Airways
JetBlue Airways
JetBlue Airways Corporation is an American low-cost airline. The company is headquartered in the Forest Hills neighborhood of the New York City borough of Queens. Its main base is John F. Kennedy International Airport, also in Queens....
, Jewelry Television
Jewelry Television
Jewelry Television is an American television network, similar to the Home Shopping Network. It was formerly called "America's Collectibles Network" . The privately-held company was founded in 1993 and broadcasts high definition programming 24 hours a day, 7 days a week, to over 80 million unique...
and Hotels.com
Hotels.com
Hotels.com is an operating company of Expedia, Inc. that provides reservation services for hotel rooms and other places to stay.The company was founded in Dallas, TX in 1991 as Hotel Reservations Network by Dave Litman and Bob Diener as a toll-free telephone service, offering consumers a one-stop...
. The site, which offers consumers a line of revolving credit
Revolving credit
Revolving credit is a type of credit that does not have a fixed number of payments, in contrast to installment credit. Examples of revolving credits used by consumers include credit cards. Corporate revolving credit facilities are typically used to provide liquidity for a company's day-to-day...
through WebBank, allows purchases to be made online without using a credit card
Credit card
A credit card is a small plastic card issued to users as a system of payment. It allows its holder to buy goods and services based on the holder's promise to pay for these goods and services...
. The company was one of the first recipients of the Red Herring Global 100 Award by the publication Red Herring
Red Herring (magazine)
Red Herring was a technology business magazine, which flourished during the dot com boom, with global distribution and bureaus in Bangalore, Beijing, and Paris. It also sponsored conferences designed to bring venture capitalists, entrepreneurs, and technologists together. But the magazine went into...
.
On November 7, 2008, eBay
EBay
eBay Inc. is an American internet consumer-to-consumer corporation that manages eBay.com, an online auction and shopping website in which people and businesses buy and sell a broad variety of goods and services worldwide...
subsidiary PayPal
PayPal
PayPal is an American-based global e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as checks and money orders....
completed its acquisition of Bill Me Later. It was formerly owned by I4 Commerce)
How it works
After customers open their accounts (including credit check), Bill Me Later asks customers at every purchase to fill out the last 4 digits of their SSNSocial Security number
In the United States, a Social Security number is a nine-digit number issued to U.S. citizens, permanent residents, and temporary residents under section 205 of the Social Security Act, codified as . The number is issued to an individual by the Social Security Administration, an independent...
and their date of birth. The approved customer can then pay the bill by mail (check) or online (via bank account) at www.billmelater.com. The first time customers are emailed a link to register with billmelater.com - so that they can check their balances or pay their bill. Customers also get an email whenever they are declined. In cases when they are declined and they don't receive declined email/letter, they can contact Bill Me Later Customer Service to check if it was not a system issue. Bill Me Later isn't a credit card but the company will charge late payments just like a credit card company or bank without sending you a paper statement in the mail.
Developers/new merchant integration
Unlike its parent company PayPalPayPal
PayPal is an American-based global e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as checks and money orders....
which is available to most e-commerce entities, Bill Me Later is only available to medium or large businesses. New merchants can request integration through a website operated by the company.
Other products
Besides its flagship consumer service, Bill Me Later also offers Bill Me Later Business (seen at USPS) and Preferred Account (seen at NeweggNewegg
Newegg.com Inc. is an online retailer of computer hardware and software. It is based in City of Industry, California. The company was founded by Fred Chang, a Taiwanese immigrant, in 2001.- History :...
). In Bill Me Later Business, the users are business owners who want to use the equivalent of a corporate card for buying products and services over the web. The business owner would apply for Bill Me Later Business - using data like EIN etc. The Preferred Account is similar to the concept of a charge card - that can be used at a particular merchant only.