SOURCE: IO NewsWire

October 06, 2011 07:30 ET

Layaway Making a Comeback for the Holidays

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IO News Wire.

NEW YORK, NY--(Marketwire - Oct 6, 2011) - Retailers are announcing the comeback of layaway programs just in time for the holiday shopping season. Most recently, Walmart (NYSE: WMT) and Sears Holding Corp (NASDAQ: SHLD) have announced their layaway programs to entice consumers.

A Fox Business article (http://fxn.ws/p5sX95) discussing the reemergence of layaway outlines how the weakened economy has pushed retailers to entice shoppers with the possibility of saving money that normally would go toward paying credit card interest.

A niche company that is finding success in the reemergence of layaway is eLayaway, Inc. (OTCBB: ELAY). eLayaway empowers retailers and payment platforms with an automated micro-payments system designed to support layaway. eLayaway has also announced it is teaming up with MoneyGram International (NYSE: MGI) to allow customers to send cash to eLayaway via MoneyGrams 35,000+ agent network.

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