Some of the company’s latest innovations are partially in response to interest from the powersports industry. The company plans to roll out a mobile app, and a Virtual Terminal by midyear. The Virtual Terminal is for dealers who have Internet access but not their own websites. They will log into a merchant account page on eLayway’s site and complete the process from there, while the customer is still in the store.
“A lot of people from that industry have reached out to us, where they sell ATVs, motorcycles or accessories,” Pinon says, because customers “want so many add-ons on the bike.”
He’s had conversations with a Florida H-D dealer who wants to use layaway to spare customers the sticker shock of their customized dream Hogs.
“What he would like to do is the get the guy on the base model, get him financed and send him home on the bike, then put all the saddlebags and gear on the layaway,” Pinon says.
For now, eLayway is suited to retailers with an existing web presence, and selling pricier items. Pinon said retailers with low-priced items got traffic from eLayway links, but customers made smaller purchases outright. “We have three websites. But I only use eLayaway on this one because motorcycle leathers are expensive,” says MaryLynn Keborn, who runs motorcycleleatheroutlet.com with a partner. “For me it’s worked out really good. I’ve had lots of people use it.”
eLayaway is BBB Online accredited and was selected a youngStartup Ventures Top Innovator, winning a presentation slot at the New England Venture Summit last December.
Read more: Dealers Revive Layaway Programs