Amazon Takes Stake in Payments Service Bill Me Later


Amazon (NSDQ: AMZN) says it will take an unspecified stake in online payments service Bill Me Later, and that it will offer the company’s transaction system to its customers. The Baltimore-based company, which offers a method for consumers to buy goods online without entering in credit card information, has reportedly raised around $200 million, $72 million of which came last quarter, according to the Baltimore Sun. Current customers include, (NYSE: WMT) and, and its 2007 revenues are estimated around $100 million. Because the system doesn’t require credit card info, it’s seen as an appealing alternative to customers reticent about putting information in the hands of various online retailers. The investment accelerates Amazon’s activity in the payments space, where Google (NSDQ: GOOG) and eBay (NSDQ: EBAY) are active, although it already has a homegrown payment platform for third-party merchants. The transaction is expected to close in Q1 of next year. Release.

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