Amazon has announced the introduction of an alternative payment option, Bill Me Later.

According to Amazon, beginning July 8th Amazon customers will be able to use Bill Me Later's payments service to pay for their purchases instantly online without using a credit card.

Matt Swann, vice president of payments at Amazon.com said: "We are committed to providing our customers with the greatest possible selection, whether that's in our 40+ stores, or in the selection of payment methods we offer on the site."

He added:  "We believe our customers will appreciate having another convenient payment option when shopping on Amazon.com."

Amazon says the new system is among the most widely adopted payment technologies for the largest online retailers. The company says that Bill Me Later enables consumers to shop online without using a credit card and helps retailers simplify the payment experience for customers who don't want to use credit cards.

Additionally, the company said that in order to sue the system, all US purchasers will need to enter their birthday, and the last 4 digits of their Social Security Number, and then accept the terms on Amazon.

Consequently, Bill Me Later allows users to buy now or pay later, and when the users order is shipped they also receive a bill from Bill Me Later in the post that allows them to either pay in full or over time.