B&H Launching Payboo to Combat Online Taxes

Thank you for the clarification Henry. Indeed I was speculating on the nature of the service based on the wording of the service description in the trademark application and now that the new details have been released, we have a much better understanding about payboo. Very interesting concept indeed although I believe the trademark service description is a little misleading.

Yup that's exactly what it is. This was so underwhelming. I guess 9% back is really good if you buy a ton from b&h but I'm definitely not opening a credit card for a random store like that.

I got an official response on how it works:

Thanks for your interest in B&H Photo and for this feedback. Like most of our customers I want the benefits of the tax revenue when my state paves roads, improves schools, and so on. Like most of our customers I'd also like to have as much of my hard-earned dollars in my pocket as possible.

The Payboo program does not change when or how much your state treasury receives from a purchase made here. State sales tax is paid as it was yesterday and last week but now, when that's done B&H issues an "instant rebate" to you for the amount of tax you just paid.

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regards, Henry Posner Director of Corporate Communications B&H Photo-Video, and Pro-Audio http://www.bandh.com/

Because the marketing around Playboo as being a "new business to solve the tax problem" doesn't necessarily seem to trigger - hey I'm going to give you a discount if you pay via our preferred financier. The initial email announcement around this just seemed to make it feel like some kind of shell game.

IMO, Now that details are out, the way it is positioned, standing up a whole other line of business/partnership for the sole purpose of providing a credit line in addition to what amounts to a Unless a vast number of orders are currently financed, I don't know how Synchrony makes money on this partnership unless there's a disproportionate amount of folks that don't pay off their purchase via this Payboo immediately and incur interest charges - which would reduce the "sales-tax savings" as a reward. If there's already a lot of "financed purchases" - that "sales-tax savings" is just part of the introductory rate on a purchase via Synchrony and just translates into even more shared revenue between B&H and Synchrony.