Bill Me Later: The 'frictionless' online payment alternative

Though it has focused mainly on the largest online merchants, Bill Me Later has seen rapid growth. 22% of online buyers used Bill Me Later to make a purchase during the holiday shopping season, according to the Piper Jaffray eCommerce Survey for the fourth quarter of 2007.

Bill Me Later, which allows users to provide limited information and to be billed later for purchases they make online, got a huge profile boost late in 2007 when Amazon announced it would offer the payment alternative and would make an investment in the company.

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