New service lets people buy online without a credit card

• Even though shoppers spent $19 billion online during the holiday season, many people are apprehensive about punching in their credit card numbers to make purchases.
• A new alternative allows people to buy now and pay later -- without the use of a credit card.
• Renee Frustaci considers herself an online shopping junkie, especially now that she can buy without giving out her credit card number.
• "I use it almost every time that it's available."
• The service is called Bill Me Later.
• Sites that offer the Bill Me Later function will have an icon on the pay page.
• Consumers can click on the icon, which will then ask for their name, address, birthday and the last four digits of their Social Security number.
• The reason why Bill Me Later uses birthday and Social Security numbers is to run an instant credit check before a consumer's first purchase.
• "There's no lengthy application to fill out," explained Vince Talbert with I4 Commerce.
• Talbert said shoppers get a bill in the mail that can be paid off at once, or a payment plan can be set up.
• More than 200 retailers, including PETCO, Continental Airlines and Wal-Mart, are using the service.
• Talbert said more retailers are joining the network.
• "This is a no-risk proposition," said Lauren Freedman, an e-tail expert.
• "The whole notion of alternative payments is really growing as an industry," Freedman said.
• "We knew consumers weren't satisfied with traditional payment options online," Talbert said.
• Research by I4 Commerce showed 64 percent of shoppers said they would be willing to buy online if they could avoid using their credit card numbers.
• "Your information isn't just floating out there," she said, adding she plans to use the service whenever possible.