TALLAHASSEE, Fla., Aug. 9, 2010 (GLOBE NEWSWIRE) -- eLayaway, Inc. (OTCBB:ELAY), the Internet's first and only patent pending layaway payment processor, is pleased to announce today the appointment of NFL legend Marcus Allen, as the Company's spokesperson. In his new role as a high-profile representative of the Company, and with his personal experience and belief in the attributes of the eLayaway® service, Marcus Allen will widely promote the eLayaway® brand among merchants and consumers; help create and launch the Company's consumer financial literacy initiative; and work to educate and encourage consumers on the benefits of "smart buying" in these tough economic times. During his distinguished football career, Marcus Allen played for the Los Angeles Raiders and the Kansas City Chiefs. He is both a Super Bowl champion, MVP and winner of the coveted Heisman Trophy award. Details of this new relationship are discussed below.
Specifically, beginning immediately, as spokesperson for eLayaway®, Mr. Allen will work with the Company to promote both the eLayaway® service offering and a common commitment to fiscal responsibility and enabling "smart," effective payment choices for consumers, which is particularly important during these challenging economic times. As a highly visible and well respected public figure, the Company believes Mr. Allen's presence in promoting the brand will help capture mindshare and bring further recognition to the eLayaway® prepayment option among a broader consumer audience, building eLayaway® into a mainstream brand that customers ask for by name. He will also serve as a high profile figurehead in the Company's Consumer Financial Literacy Initiative, scheduled to launch later this year. As part of this program's development process, Mr. Allen will work with the Company on its strategy to create an informative and practical set of initiatives designed to help budget-conscious consumers better understand and manage their financial situations, including education about lowering debt, judiciously using credit and how to best take advantage of financially sound buying practices such as that offered by eLayaway®.
Mr. Allen is very familiar with the eLayaway® payment option, having served as spokesman since February for eLayawaySPORTS™, the Company's wholly-owned division and brand where sports fans can purchase season tickets and other sports related items on layaway. As spokesman for eLayawaySPORTS™, Marcus Allen represented eLayaway, Inc. in the 2010 National Sports Forum held in Baltimore, MD where his attendance brought recognition to eLayawaySPORTS™ as an alternative ticket payment system for various venues (i.e. professional and college teams), aiding further introductions of the eLayaway® payment option to new, enthusiastic users and facilitating and generating sales for eLayaway, Inc. and the respective sports teams and merchants that use the eLayaway® payment system.
According to Marcus, "The eLayaway® prepayment option has allowed countless sports fans to buy the tickets and merchandise they want without increasing their debt or having to say "no" to attending a game just because they cannot afford it at that moment." Allen continued, "I've seen how eLayawaySPORTS™ is facilitating the relationship eager fans have with the sports teams they follow by enabling them to participate in games and other events with access to tickets and other items. If eLayaway® can transform and ease the commerce side of sports, it can work anywhere for anyone to promote sales and fiscal responsibility, making everyone happy."
"Mr. Allen is well known among sports circles in particular and widely respected by many people in general as a highly successful 'role model' athlete," commented Sergio A. Pinon, Chief Marketing Officer of eLayaway. "We are absolutely thrilled to expand our existing relationship with Marcus to company-wide spokesman beyond his current role for eLayawaySPORTS™. His credibility with audiences and personal belief in our services make him an ideal and powerful choice for teaming with eLayaway. It is an honor to work with Marcus Allen."
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 1.9% transaction fee 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 that may no longer be accurate or timely as a result of new information.
For more information, please visit www.eLayaway.com.
CONTACT: Emerging Growth Research Carrie Snyder (917) 862-0705