eBillme helps students who won’t be able to use credit cards under new law

Taking into consideration the fact that the new legislation regulating credit card practices of the financial institutions will make it difficult for the students under age of 21 to use credit cards for making purchases online an electronic payment system eBillme decided to introduce ‘eBillme Teens,' a new feature that gives tweens, teens, and young adults the option to pay for online purchases themselves using their online bank account, or forward an electronic bill to their parents to approve the purchase and make the payment.

"College students have long been plagued by credit card debt, and are in need of new solutions to better manage spending and control their budgets," says Marwan Forzley, President and CEO of eBillme. "We strongly support the measures within the Credit Cardholders' Bill of Rights that will limit access to credit for consumers under the age of 21, but recognize that this demographic relies on the Internet for online banking and purchasing. These new reforms will prompt many consumers to look for credit card alternatives at the online checkout. We are excited to offer eBillme as a safe, debt-free checkout option for online merchants to provide in response."

According to the report from the Pew Internet & American Life Project 71% of Internet users aged 18 to 32 make purchases online. 84% of college undergraduates hold at least one credit card, while the average college student carries $3,173 in credit card debt, according to a recent Sallie Mae study. eBillme wants to offer these groups an easy alternative method for continuing to purchase essential items online responsibly and debt free.