SAN FRANCISCO, July 13, 2010 (GLOBE NEWSWIRE) -- Emerging Growth Research, LLC, a leading research and analysis firm, has issued a new research briefing on eLayaway, Inc. (OTCBB:ELAY), the Internet's first and only patent pending layaway payment processor. The briefing examines the significant opportunity in the eCommerce and Brick & Mortar retail industries for new, effective alternative payment options that enable consumers in today's economy to "pull the trigger" and say "yes" to the purchases they desire.
The Company is the sole provider of a new proprietary online payment system that allows consumers to prepay for items using a monthly payment schedule that best fits their needs and budget. eLayaway® also gives merchants access to millions of credit-conscious shoppers who were either previously unreachable or looking for alternatives to traditional credit cards and debt related buying. The Company's automated payment system, called eLayaway®, is well poised to become the name brand alternative payment solution in the multi-trillion retail industry.
"The current economic environment and credit crisis, coupled with the ubiquitous presence of the Internet in the world of commerce, has created the 'right time' for eLayaway®," commented Joe Noel, author of the briefing at Emerging Growth Research, LLC. "We estimate the Company's current addressable portion of the eCommerce marketplace to be in the neighborhood of $1.2 billion and for the much larger Brick & Mortar market, this figure is significant at about $58 billion," continued Noel. "The eLayaway® solution faces a very large market opportunity overall, with the potential to capitalize on nearly every consumer goods retail transaction."
The full report can be accessed at http://www.joenoelstocks.com/wp-content/uploads/2010/07/ELAY-Initiation-Briefing-Jul-2010.pdf.
About Emerging Growth Research, LLP
Emerging Growth Research, LLP is like no other financial services or financial communications firm in the industry today. We combine elements of independent stock analysis, merchant banking and management consulting to deliver a unique service offering that serves both investors and corporate issuers. The principles at Emerging Growth Research are senior securities industry professionals and corporate executives, all of whom possess at least 20 years of industry experience.
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 as a result of new information since these statements may no longer be accurate or timely.
For more information, please visit www.eLayaway.com.