Bill Me Later gets acquired

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Bill Me Later is a novel payment mechanism which uses your credit history and your unique info ( social security number/birthday combo) to make cashless/cardless payments. Payments can be made for online stores as well as B&M stores. Bill Me Later sends you a bill every month for all the purchases you made using their service. How do they know you will pay ? Answer : Thats the business they are into. Verifying you and your credit history before you can use their service. They are a bit like post-paid mobile talk plans in contrast to pre-paid mobile plans.

Advantage : No credit card info to remember or share.
Peers : None ( Paypal requires you to register your card with them)
Result : Ebay acquires it for 820 million USD. Nov 7th,2008.
India : CIBIL ( Credit and Information Buraeu of India Limited) is creating a database of users and their credit history. It will be used by banks and Financial institutions. There could be a business model lurking in there.