Welcome!

News Feed Item

Global Analytics Offers 0% Financing for the Underbanked With Acquisition of workpays.me

Company Offers No Fee, 12-Month Retail Finance on Brand-Name Products

SAN DIEGO, CA -- (Marketwired) -- 03/25/14 -- Global Analytics Holdings, Inc., the makers of the Zebit underwriting and payments platform for the underbanked, announced today that it has acquired workpays.me, an online marketplace that enables employees to pay for purchases over 12 months via direct or payroll deductions with 0% interest and no fees.

Founded by Josh Verne, Jon Dorfman and Paul Dumas, workpays.me is a benefit available through employers, offering an online catalog of over 20,000 brand name items such as computers / electronics, furniture, home goods, accessories and fitness at market prices. Its growing base of several million customers can choose from a variety of payment options, all done via direct or payroll deduction.

"This transaction strengthens our commitment to offering our customers the most affordable way to finance purchases," said Michael Thiemann, CEO of Global Analytics. "workpays.me's focus on financial wellness aligns perfectly with our culture."

"workpays.me's expertise in procurement, logistics and merchandising together with Global Analytics' experience in lending, payments and underwriting makes for a powerful combination," said Global Analytics advisor and co-founder of Capital One Financial Services Nigel Morris. "Providing a way for consumers with poor access to credit to buy products at standard market prices with 0% over 12 months is a true breakthrough. A win-win for both the employee and employer."

Because of the high risk of financing underbanked customers, typical interest rates available to them are high and product prices inflated.

"Not only are we able to offer customers prices comparable to what they would see online or at a big box retailer," said Josh Verne, CEO of workpays.me. "We are laser-focused on perfecting customer service, ensuring that we deliver best-in-class service. We know that if customers have a great experience with us, they're going to come back."

"When I founded this company, I was looking for ways to use analytics to have a positive impact on people's lives," added Global Analytics President and Chief Analytics Officer Krishna Gopinathan. "This is a perfect application for our Zebit platform -- using our Deep Learning analytic capabilities to ensure we can provide zero cost financing to as many customers as possible."

"workpays.me is an incredible benefit to offer to employees at no cost to the employer," said Scott McGurk, National Enterprise Manager at Paychex, Inc. "Benefits managers should take note of this program because increasingly, financial responsibility will become a key component of employee wellness and care. We love being able to help our employees make the most of their hard-earned money, and employees will appreciate that purchases are interest- and fee-free. As a bonus, most products are shipped free."

"We're excited about this partnership," said workpays.me advisor and former President of Visa Hans Morris. "I'm really proud of what the team has accomplished, and having the financial backing of an established company like Global Analytics is going to give workpays.me the fuel it needs to scale quickly."

Global Analytics has raised a total of $95 million, including a $30 million term credit facility in 2013 and $65 million in equity and debt financing since 2009.

About Global Analytics

Global Analytics is an international technology company applying advanced analytics to financing solutions for the underbanked. The founding team developed the fraud protection system protecting over 2 billion credit cards worldwide. The company has been honored as one of Red Herring's Top 100 Tech Startups and as a nominee in the Best Prepaid Awards in the UK for innovation. The company is based in San Diego and has over 400 employees worldwide, including key business operations in the United Kingdom and India. For further information, visit www.global-analytics.com.

About workpays.me

Headquartered in Philadelphia, workpays.me is an e-commerce platform that promotes financial wellness and enables individuals to make necessary life purchases through hassle-free direct deductions. Individuals have the opportunity to purchase thousands of name-brand products & services with the flexibility to pay over time through direct or payroll deductions. For more information, visit www.workpays.me.

About Paychex

Paychex, Inc. (NASDAQ: PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 570,000 payroll clients as of May 31, 2013. For more information about Paychex and our products, visit www.paychex.com.

Add to Digg Bookmark with del.icio.us Add to Newsvine

Media Contact:
Sandi Adam:
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Outscale was founded in 2010, is based in France, is a strategic partner to Dassault Systémes and has done quite a bit of work with divisions of Dassault," explained Jackie Funk, Digital Marketing exec at Outscale, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We focus on SAP workloads because they are among the most powerful but somewhat challenging workloads out there to take into public cloud," explained Swen Conrad, CEO of Ocean9, Inc., in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"DivvyCloud as a company set out to help customers automate solutions to the most common cloud problems," noted Jeremy Snyder, VP of Business Development at DivvyCloud, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We provide IoT solutions. We provide the most compatible solutions for many applications. Our solutions are industry agnostic and also protocol agnostic," explained Richard Han, Head of Sales and Marketing and Engineering at Systena America, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are still a relatively small software house and we are focusing on certain industries like FinTech, med tech, energy and utilities. We help our customers with their digital transformation," noted Piotr Stawinski, Founder and CEO of EARP Integration, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"I think DevOps is now a rambunctious teenager – it’s starting to get a mind of its own, wanting to get its own things but it still needs some adult supervision," explained Thomas Hooker, VP of marketing at CollabNet, in this SYS-CON.tv interview at DevOps Summit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We've been engaging with a lot of customers including Panasonic, we've been involved with Cisco and now we're working with the U.S. government - the Department of Homeland Security," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We're here to tell the world about our cloud-scale infrastructure that we have at Juniper combined with the world-class security that we put into the cloud," explained Lisa Guess, VP of Systems Engineering at Juniper Networks, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, provided a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services with...
"We were founded in 2003 and the way we were founded was about good backup and good disaster recovery for our clients, and for the last 20 years we've been pretty consistent with that," noted Marc Malafronte, Territory Manager at StorageCraft, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We are an IT services solution provider and we sell software to support those solutions. Our focus and key areas are around security, enterprise monitoring, and continuous delivery optimization," noted John Balsavage, President of A&I Solutions, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
"We want to show that our solution is far less expensive with a much better total cost of ownership so we announced several key features. One is called geo-distributed erasure coding, another is support for KVM and we introduced a new capability called Multi-Part," explained Tim Desai, Senior Product Marketing Manager at Hitachi Data Systems, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
SYS-CON Events announced today that Calligo, an innovative cloud service provider offering mid-sized companies the highest levels of data privacy and security, has been named "Bronze Sponsor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Calligo offers unparalleled application performance guarantees, commercial flexibility and a personalised support service from its globally located cloud plat...