TALLAHASSEE, Fla., Sept. 14, 2010 (GLOBE NEWSWIRE) -- eLayaway, Inc. (OTCBB:ELAY), the Internet's first and only patent pending layaway payment processor, today announced the availability of a new audio interview with the Company's Chief Marketing Officer, Sergio Pinon. eLayaway®'s electronic payment solution allows consumers to prepay for items by choosing a monthly payment schedule that best fits their needs and budget. eLayaway® is a modern, digital age version of the former "tried and true" layaway business concept in which consumer-directed partial payments are made over time for goods and services that are then released to the buyer once all payments are complete.
Investors and interested parties may now access the audio interview in order to listen to the discussion at .
In the interview, Mr. Pinon discusses the highly scalable eLayaway® business model, the Company's consumer and merchant customers, the industry and the unique opportunity currently before eLayaway®, particularly in this challenging economic environment in which most merchants are rigorously seeking ways to increase sales while consumers are cutting back their spending habits. "eLayaway® addresses the needs of both the merchant and the consumer in a mutually beneficial, win-win solution," commented Sergio Pinon, Chief Marketing Officer of eLayaway, Inc." He continued, "The current economic environment, coupled with the ubiquitous presence of the Internet in the world of commerce, has created the right time for eLayaway®."
The Company's payment solution addresses the multi-billion dollar online eCommerce market as well as the much larger trillion dollar marketplace comprised of traditional Brick & Mortar in-store retailers. During the interview, Mr. Pinon outlined the Company's merchant base of users as well as the benefits to merchants of offering consumers the eLayaway® payment option. "eLayaway® represents a powerful marketing tool for merchants to use with their consumers in bringing them an affordable payment option. Importantly, merchants also save on transaction fees since the fee we charge is considerably less than that of credit card companies," said Mr. Pinon. "As margins are getting tighter for merchants, this allows them to keep more of their sale dollars." The eLayaway® payment system enables consumers to actually "pull the trigger" and say "yes" to buying, while giving merchants access to millions of credit-conscious shoppers who were either previously unreachable or looking for alternatives to traditional credit cards.
In addition to these topics, in the interview, Mr. Pinon also discusses the success of the Company's ongoing sales efforts, including its "Christmas in July" initiative that to date has resulted in a considerable increase in sales, even over last year; the Company's recent appointment of NFL legend and Hall of Famer, Marcus Allen, as the Company's spokesperson; and eLayaway®'s ongoing relationship with several well known sports teams in the NFL who have had significant success in enhancing ticket sales while providing sports fans with a pay-over-time option that gives them access to the tickets and merchandise they desire.
How eLayaway Works for Consumers
eLayaway® is an online payment system that allows consumers to pay for the products and services they desire using manageable periodic payments, thereby making purchases affordable and easy to budget. Payments are automatically drafted from the consumer's designated bank account via Automated Clearing House ("ACH") on the modifiable schedule set by the consumer at the time of purchase. A flat 1.9% transaction fee is charged to the consumer and all payments are held in an account in trust at HSBC Bank and transferred to the merchant once full payment has been made. Like traditional layaway programs of the past, delivery of the product or service occurs once payment is complete. Payment processing and supporting services are handled by eLayaway® while merchants provide order fulfillment.
How eLayaway Works for Merchants
For many online merchants, eLayaway® offers an opportunity to provide layaway to their customers as a means to expand market share while reducing the administrative requirements of traditional layaway. Merchants are now turning to payment alternatives such as eLayaway® in order to take advantage of opportunities that increase sales and profits. Today, approximately one-half of all consumers do not qualify for credit. eLayaway® provides an alternative payment method that allows these consumers to make the purchases they desire while enabling merchants to sell additional products on an immediate basis.
In addition to eLayaway.com, the Company also owns and operates eLayawaySPORTS.com, eLayawayTRAVEL.com and eLayawayHEALTH.com. eLayaway, Inc. was founded in 2005.
Safe Harbor Statement
This report includes forward-looking statements covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results for the current fiscal year and beyond could differ materially from the Company's current expectations. Forward-looking statements are identified by words such as "anticipates," "projects," "expects," "plans," "intends," "believes," "estimates," "targets," and other similar expressions that indicate trends and future events. Factors that could cause the Company's results to differ materially from those expressed in forward-looking statements include, without limitation, variation in demand and acceptance of the Company's products and services, the frequency, magnitude and timing of any or all related price changes, general business and economic conditions beyond the Company's control, timing of the completion and integration of acquisitions, the consequences of competitive factors in the marketplace, cost-containment strategies, and the Company's success in attracting and retaining key personnel. Additional information concerning factors that could cause actual results to differ materially from those projected is contained in the Company's filing with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update forward-looking statements that may no longer be accurate or timely as a result of new information.
CONTACT: Emerging Growth Research, LLP Carrie Snyder (917) 862-0705