Amazon to invest in Bill Me Later

SEATTLE Amazon.com announced today that it is making an equity investment in Bill Me Later, a provider of alternate payment technologies, which will offer Amazon.com customers the Bill Me Later payment option.

“Bill Me Later has developed a very customer-centric method to make online shopping even easier,” said Matt Swann, vp of payments at Amazon.com. “We are pleased to make the convenience of Bill Me Later available to our tens of millions of Amazon customers.” 

The terms of Amazon’s investment have not been disclosed. According to the company, the transaction, which is subject to customary closing conditions, is expected to close in the first quarter of 2008.