Amazon's Bill Me Later: No Longer Works On Amazon?(!)

Looks like the economy has another casualty: Amazon no longer accepts Bill Me Later, the company that offers instant credit to online consumers. The BML model does an instant credit check before offering consumers the option to get a service or product now, and pay later. The service makes money on fees and on interest charges for consumers who choose to pay on time, as with a credit card.

Problem is, in the current credit crunch, far fewer people are actualy eligible for credit, meaning that the profitability of this business has dropped. So much so that Amazon, its owner, no longer offers Bill Me Later as a payment option. Huh?

Ah, the joy of the "free market," brought to us in large part by Saint Phil Gramm.


Photo Credit: Mike Licht, NotionsCapital.com

Bull Me Later weren't cheap, neither. As I recall, Amazon dropped $800 Mil on this acquisition -- yep, a service they no longer have the confidence to accept.

The times they are a strangin'.

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