Alternate forms of payment catching on online
These days consumers have a lot more options than just paper and plastic when it comes to paying for online purchases.
We told you in yesterday's Sun that services such as eBillme, Bill Me Later, Billeo and PayPal let customers make online payments without using a credit card. Bill Me Later asks for your name and birthday and the last four digits of your Social Security number. Billeo saves your bank account information in a toolbar.
Just FYI: Consumer Reports points out ...
... that Bill Me Later offers a discount that requires a credit inquiry that could affect your credit score, which is calculated not only based on the outstanding debts you have but also the number of times you seek credit.
Also, the offer of "no payment for 90 days" requires an initial minimum payment and then full repayment within three months, or the balance is subject to interest rates.
But credit cards offer some protections for your purchases, especially if the goods aren't delivered as promised, or other problems. What do these services offer?
eBillme's Web site also states the service offers buyer protection, as well.
Categories: Budgeting, Credit cards, Holiday shopping, Shopping
