Online Service Allows Shoppers to Buy Now, Pay Later

(KHNL) -- The holiday season can be tough on our wallets especially if the list is long.

If you're holding off on your Christmas shopping because you're short on cash, here's an online service that may be able to offer you a solution.

There is a new way to pay that won't break the bank. You can shop online for all your gifts and pay for them later.

It's a service called Bill Me Later and you can find it at many popular online retailers. With this service, you can shop at more than 700 stores online without entering your credit card number.

You just give some basic information at checkout and a bill will be sent to you in the mail. Customers pay no fees if they make payments within 30 days.

If you need a longer payment plan, there are some retailers who offer special promotions.

"We have 90 days, 6 months, 12 months in some cases it depends on the merchants and the merchandise," said Mark Lavelle of Bill Me Later, Inc.

Lavelle says the service gives shoppers a peace of mind. He says it takes away the hassles of mall shopping while keeping personal information guarded from online hackers.

"It's very safe and you're not giving out a 16-digit number and expiration date and code and all that other things that you're fumbling for."

Although Bill Me Later is not a credit card company, it works like one. Customers will have to pay a 19% interest rate if their balance is not paid off within that period of time.

But not everyone is qualified for a Bill Me Later account. Shoppers must meet certain credit requirements to be eligible.