eLayaway Teams Up With MoneyGram to Provide a Cash Funding Source for Its Members

TALLAHASSEE, Fla., Oct. 5, 2011 (GLOBE NEWSWIRE) -- eLayaway®, Inc. (OTCBB:ELAY), the Internet's first and only patent-pending layaway processor, has announced a new business relationship with MoneyGram International (NYSE:MGI), a leading global money transfer company. This relationship now provides the Company with the ability to accept cash payments from its members through MoneyGram's rapidly growing network of more than 35,000 U.S. agent locations.  The new payment option expands the Company's current option beyond ACH (Automatic Clearing House) and provides eLayaway Members with added convenience and flexibility.

"We are honored to be working with a company as renowned and trusted as MoneyGram International," said Sergio Pinon, chief marketing officer and Founder of eLayaway. "The partnership will add additional convenience and strategic value to the eLayaway process, allowing us to further strengthen our commitment and support of the underbanked/underserved community."  

The inclusion of MoneyGram® ExpressPayment® services will support both eLayaway's online and brick and mortar layaway programs. Most notably, the MoneyGram service will provide the unbanked and underbanked with the ability to fund their eLayaway account using cash. It will also provide consumers with the ability to pay cash for online purchases; something they have never been able to do without having a bank account. The implications of being able to fund an online purchase using cash provides participating eLayaway Merchants with the opportunity to reach a new, untapped market of consumer.

About MoneyGram International        

MoneyGram International, Inc., a leading money transfer company, enables consumers who are not fully served by traditional financial institutions to meet their financial needs. MoneyGram offers bill payment services in the United States and Canada and money transfer services worldwide through a global network of more than 244,000 agent locations--including retailers, international post offices and financial institutions--in 192 countries and territories.

About eLayaway

eLayaway empowers retailers and payment platforms with an automated micro-payments system designed to support layaway, leasing, micro-lending and layaway/credit hybrid programs. Marketing and customer support is also available, making eLayaway the perfect technology for retailers looking for an autonomous solution. Implementation costs to integrate eLayaway are minimal and ongoing transaction fees are far less than credit cards processing fees. 

eLayaway enables consumers to pay for the products and services they desire using manageable periodic payments, thereby making purchases affordable and easy to budget.

eLayaway, Inc. was founded in 2005. In addition to eLayaway.com, the Company also owns and operates eLayawaySports.com, eLayawayTravel.com and eLayawayHealth.com.

Press summary, logos and screenshots available for download at: eLayaway.com/press.

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.

For more information, please visit www.eLayaway.com.

Jeffrey Chicola
eLayaway®, Inc. 

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