Invests In Bill Me Later; Online Bill Payment Market Heating Up announced today that they are investing in Bill Me Later, Inc. Not only that, but Amazon is also signing a agreement with the online billing company as well. eBay and PayPal has thus far proved the synergy of combining an online retailer with an online billing payment company. Over 90% of all eBay auctions are paid via PayPal so it made sense for eBay to buy them for $1.5 billion.

“Bill Me Later has developed a very customer-centric method to make online shopping even easier,” stated Matt Swann, VP of payments at “We are pleased to make the convenience of Bill Me Later available to our tens of millions of Amazon customers [source: press release].”

The investment terms were not disclosed, but the company has $200 million in funding capital according to TechCrunch. Bill Me Later investors include Chase Paymentech, Azure Capital Partners, First Data Corp, Crosspoint Venture Partners, GRP Partners, CIT Group Inc., Citigroup Corporate and Investment Banking, Citigroup, Equifax, T. Rowe Price, and Legg Mason Inc.

“ and Bill Me Later share the same commitment to making shopping easy for consumers,” stated Gary Marino, the CEO of Bill Me Later. “Just as Amazon invented a new and better way for people to shop online, Bill Me Later has created a new and better way for people to pay for purchases online.”

Before joining Bill Me Later, Marino was an EVP, Chief Credit Officer, and Chief Marketing Officer of consumer lending at First USA/Bank One.

This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at Invests In Bill Me Later; Online Bill Payment Market Heating Up Comments

  1. billmelater_giving_me_runaround says: is totally untrustworthy and does not care about customers.
    They only care about taking your money. It is just impossible to get them to correct a mistake. Their reps and supervisors just repeat the same thing each and every time from some script.”We are not the merchant.”
    Anyways, lets begin with this, I was entitled to a free product from Equiifax due to Hillis/Slack Settlement and picked the billmelater option without realizing that I was openning an account with I realized I made a mistake in the payment option and cancelled the order 2 days later with the Equifax. Equifax told me I would not be charged. However, I received a email from that a bill was on the way. I immediately called on it to inform them of the cancellation. keeps saying that they already paid Equifax the money and I would have to call Equifax and have Equifax refund the money back to This did not make sense to me but I went along and called Equifax on it and told them that what told me, that wanted their money back from Equifax for the cancelled order. Equifax in turn, maintains that they never got money from for the cancelled order and to call back to inform them that the order was cancelled and to adjust the bill. So here I am getting the run around calling and Equifax back and forth with each sticking to their story that…we paid them…tell them to give it back to us… we did not get any money…tell them to adjust your and so on. Now, I am so frustrated that I reported to BBB because I think is pulling a scam in trying to collect money they are not entitled to. I am thinking of reporting Equifax to the BBB too. They are just as guilty as because Equifax website promises to take care of their customers but all I got was run around.

  2. billmelater_giving_me_runaround says:

    Maybe, I should contact Hillis/Slack Settlement people about this billmelater and equifax unholy marriage. Someone is scamming someone…Could be another class action suit in the making…

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