Investorideas.com - Tech Stocks; eLayaway (OTCBB:ELAY) Begins Trading as a Public Company

Investorideas.com - Tech Stocks; eLayaway (OTCBB:ELAY) Begins Trading as a Public Company

Proprietary Payment System Targets Multi-Billion eCommerce Market

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Visit this company: www.eLayaway.com

TALLAHASSEE, Fla. - July 7, 2010 (Investorideas.com newswire) - eLayaway(R) (OTCBB:ELAY), the Internet's first and only patent pending layaway payment processor, today announced the Company has begun trading of its public common stock. The Company recently received FINRA approval to commence trading on the OTC Bulletin Board under the symbol ELAY.


"We are excited that eLayaway(R) is now a public company," said Douglas R. Salie, CEO of eLayaway(R). "Exposure to the capital markets will not only help us grow our business but will also help us reach millions of consumers and merchants that are in desperate need of affordable payment solutions like that now offered by eLayaway(R)."
The eLayaway(R) payment plan targets the multi-billion eCommerce payments market and is currently offered by qualified merchants on their corporate websites in addition to the Company's own online mall, called the eLayaway(R) Mall. The Company's revolutionary online payment system allows consumers to pay for items using an automated, manageable periodic payment system based on the traditional concept of layaway. eLayaway(R) 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 they desire.

How eLayaway Works for Consumers
eLayaway(R) 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. All payments are held in account in trust services at HSBC Bank and transferred to the merchant once all the payments have been made. Like traditional layaway programs of the past, delivery of the product or service occurs upon payment in full. Payment processing and supporting services are handled by eLayaway(R) while merchants provide order fulfillment.
How eLayaway Works for Merchants

For many online merchants, eLayaway(R) 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(R) 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(R) 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 fiscal year 2010 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.


Contact:
eLayawayJoe Noel(925) 922-2560
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