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eLayaway, Inc. Partners With Monthly WarrantyCompanies Share in Fees Generated From Sale of Product Warranty Programs (April 12, 2012)
TALLAHASSEE, FL -- (Marketwire) -- 04/12/12 -- eLayaway®, Inc. (OTCQB: ELAY) (OTCBB: ELAY) ("eLayaway" or the "Company"), the Internet's first and only patent-pending layaway payment processor, today announced a strategic partnership with third-party warranty provider, Monthly Warranty. The new partnership agreement will enable eLayaway and its subsidiaries to offer consumers the option to purchase monthly-pay or multi-year extended warranty coverage for qualified purchases like electronics, TVs, computers, cameras, appliances and more.
Through the partnership with Monthly Warranty, consumers utilizing eLayaway's patent-pending payment plan will have the added flexibility of choosing a warranty plan that best fits their budget and the expected needs of their product. Like eLayaway's core payment technology, Monthly Warranty offers consumers the option to pay for their warranty plan in monthly installments, making Monthly Warranty a synergistic fit for a partnership with eLayaway. The warranty plan option will be offered across all qualified eLayaway brands, including eLayaway.com, PlanItPay.com, AaronMarkus.com, and newly-acquired Centralized Strategic Placements, Inc.
eLayaway's revenue share agreement with Monthly Warranty will allow the Company to retroactively offer extended warranty packages for previously completed orders, which will enable eLayaway to capitalize on past product sales. Moving forward, the program will be offered to consumers of eLayaway and its affiliated companies and brands who make qualified purchases. The ability for Monthly Warranty to access eLayaway's multitude of consumers broadens their customer base while providing a complementary service to eLayaway's member base.
"Partnering with Monthly Warranty on this program offering is just another step in growing our business both in customer satisfaction and in profitability. The new warranty program offers eLayaway members added piece of mind and flexibility in payment, while providing eLayaway with a new revenue stream," commented Sergio Pinon, Chief Executive Officer of eLayaway, Inc. "The ability to leverage our existing member base and provide a value-added service to them, such as this, is a win-win for both our brands and our members."
About eLayaway, Inc.
To learn more about eLayaway, Inc., and the brands it supports, please visit: eLayawayInc.com. For more information about eLayaway.com and its technology, please visit: DivvyTech.com.
About Monthly Warranty
Monthly Warranty brings affordability, extraordinary services and ease of purchase to extended service plans. With monthly, 2-year, 3-year and 5-year pay warranty choices and state-of-the-art software programs, Monthly Warranty makes it easy and affordable for retailers and eTailers of all sizes to sell extended warranties packages to more customers. Monthly Warranty's innovative technology streamlines the warranty resell process by empowering retailers with a means to accept recurring pay warranties and extension plan warranties through branded, customizable techniques. For more information about Monthly Warranty, please visit: www.monthlywarranty.com/
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.
Investor Relations Contact:
American Capital Ventures
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