Why add Bill Me Later? I4 Commerce data shows that merchants who add Bill Me Later as a payment type experience 3-7% customer growth, 8-11% higher average order value, and up to 46% higher repeat usage. Payment to merchants is guaranteed for authorized transactions.

How is it easier to install Bill Me Later? Bill Me Later SmartConnect is a turnkey implementation of Bill Me Later. It provides a quick, cost-effective solution for implementing Bill Me Later via a simple, standard Internet connection - far easier and faster than coding a custom connection to payment processors or switching processing relationships. As noted above, there is no need to change other payment relationships to add Bill Me Later.

Why add a new payment method? According to data from a recent survey of 147 top eCommerce practitioners, merchants can close up to 20% more sales by offering their customers more payment types to choose from. Merchants offering one payment type, such as general purpose credit cards, for example, convert 60% of their shoppers. Those offering four types, e.g., credit cards, Bill Me Later, gift certificates, etc., convert 72% of their shoppers - a 20% increase. ("Shoppers" are defined as online customers who have started the checkout process). Non-card payment options such as Bill Me Later are a top priority for Web merchants. The CyberSource/I4 Commerce solution enables merchants to quickly implement an additional payment option to help boost sales within a matter of days - well in advance of the upcoming peak selling season.

How Bill Me Later Works

Bill Me Later enables customers to buy online using an instant line of credit. There is no need to enter a credit card number during the transaction.

Customers select Bill Me Later as a payment method during the checkout process at merchant sites.

Customers are asked to provide date of birth and the last four digits of their social security number. On the basis of this information, credit decisions are made and customers are informed within 3-5 seconds.

Customers receive bills in their mailboxes within 15 days of the settlement posting to the customer's account.

Merchants submit the transaction for settlement upon shipment of goods or rendering of service - just as with credit card purchases.

The CyberSource Solution. A single connection into CyberSource allows merchants to access a full range of eCommerce payment methods, including Bill Me Later, credit cards, electronic checks, gift and prepaid certificates, recurring billing, and global payment options. That single connection also provides merchants access to one of the industry's most trusted suites of eCommerce fraud prevention solutions.