TALLAHASSEE, Fla.--(BUSINESS WIRE)--eLayaway, Inc. (OTCBB: ELAY), the Internet’s first and only patent pending layaway payment processor has launched eApartado.com, a Spanish version of its website. The site replicates the English version of its website, eLayaway.com. Site content, FAQ’s, alerts and the user interface will be offered in both English and Spanish. The application was designed to support multiple languages as well as manage different currencies. The initial launch will support the U.S. Hispanic market and merchants transacting in USD and will eventually be released globally. The ability to manage multi-lingual content on the site is the second new feature announced from the recent beta release of eLayaway 2.0, February 2011. Spanish was chosen as the Company’s first multi-lingual release due to consumer demand.
The site will launch utilizing eLayaway’s existing network of merchants and affiliates. The Company is actively looking to partner with merchants and strategic partners that cater to the Hispanic market.
“We are very excited to be offering eLayaway to the Spanish-speaking U.S. market,” said Sergio Pinon, eLayaway’s Founder and Chief Marketing Officer. “It’s a market near and dear to my heart and one that I am proud to call my own. We look forward to serving the Hispanic market and helping them plan and budget their purchases.”
According to the U.S. Census Bureau, approximately 15% of the U.S. population is Hispanic or over 45 million people. A recent Pew Home Broadband Adoption Report showed that 40% of Hispanic households have Internet connections at home. In 2010, comScore reported that more than 15% of U.S. Hispanic Internet users prefer Spanish as their language of choice when browsing the Internet.
eLayaway has been providing consumers with an online layaway option since 2006. The Spanish version of the site is accessible by clicking on a tab at the top of eLayaway.com or directly by visiting eApartado.com. The brand and the process will continue to be referred to as eLayaway.
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 transaction fee as low as 1.9% 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.
Press summary, logos and screenshots available for download at: eLayaway.com/press.
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 raw-material-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 as a result of new information since these statements may no longer be accurate or timely.
For more information, please visit www.eLayaway.com.