Click here to close now.


News Feed Item

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

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, 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, 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. "'s focus on financial wellness aligns perfectly with our culture."

"'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 "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."

" 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 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 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


Headquartered in Philadelphia, 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

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

Add to Digg Bookmark with 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
SYS-CON Events announced today that G2G3 will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based on a collective appreciation for user experience, design, and technology, G2G3 is uniquely qualified and motivated to redefine how organizations and people engage in an increasingly digital world.
SYS-CON Events announced today that Cloud Raxak has been named “Media & Session Sponsor” of SYS-CON's 17th Cloud Expo, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Raxak Protect automates security compliance across private and public clouds. Using the SaaS tool or managed service, developers can deploy cloud apps quickly, cost-effectively, and without error.
When it comes to IoT in the enterprise, namely the commercial building and hospitality markets, a benefit not getting the attention it deserves is energy efficiency, and IoT’s direct impact on a cleaner, greener environment when installed in smart buildings. Until now clean technology was offered piecemeal and led with point solutions that require significant systems integration to orchestrate and deploy. There didn't exist a 'top down' approach that can manage and monitor the way a Smart Buildi...
Recently announced Azure Data Lake addresses the big data 3V challenges; volume, velocity and variety. It is one more storage feature in addition to blobs and SQL Azure database. Azure Data Lake (should have been Azure Data Ocean IMHO) is really omnipotent. Just look at the key capabilities of Azure Data Lake:
In his session at @ThingsExpo, Tony Shan, Chief Architect at CTS, will explore the synergy of Big Data and IoT. First he will take a closer look at the Internet of Things and Big Data individually, in terms of what, which, why, where, when, who, how and how much. Then he will explore the relationship between IoT and Big Data. Specifically, he will drill down to how the 4Vs aspects intersect with IoT: Volume, Variety, Velocity and Value. In turn, Tony will analyze how the key components of IoT ...
As-a-service models offer huge opportunities, but also complicate security. It may seem that the easiest way to migrate to a new architectural model is to let others, experts in their field, do the work. This has given rise to many as-a-service models throughout the industry and across the entire technology stack, from software to infrastructure. While this has unlocked huge opportunities to accelerate the deployment of new capabilities or increase economic efficiencies within an organization, i...
“All our customers are looking at the cloud ecosystem as an important part of their overall product strategy. Some see it evolve as a multi-cloud / hybrid cloud strategy, while others are embracing all forms of cloud offerings like PaaS, IaaS and SaaS in their solutions,” noted Suhas Joshi, Vice President – Technology, at Harbinger Group, in this exclusive Q&A with Cloud Expo Conference Chair Roger Strukhoff.
Scott Guthrie's keynote presentation "Journey to the intelligent cloud" is a must view video. This is from AzureCon 2015, September 29, 2015 I have reproduced some screen shots in case you are unable to view this long video for one reason or another. One of the highlights is 3 datacenters coming on line in India.
“The Internet of Things transforms the way organizations leverage machine data and gain insights from it,” noted Splunk’s CTO Snehal Antani, as Splunk announced accelerated momentum in Industrial Data and the IoT. The trend is driven by Splunk’s continued investment in its products and partner ecosystem as well as the creativity of customers and the flexibility to deploy Splunk IoT solutions as software, cloud services or in a hybrid environment. Customers are using Splunk® solutions to collect ...
SYS-CON Events announced today that ProfitBricks, the provider of painless cloud infrastructure, will exhibit at SYS-CON's 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. ProfitBricks is the IaaS provider that offers a painless cloud experience for all IT users, with no learning curve. ProfitBricks boasts flexible cloud servers and networking, an integrated Data Center Designer tool for visual control over the...
You have your devices and your data, but what about the rest of your Internet of Things story? Two popular classes of technologies that nicely handle the Big Data analytics for Internet of Things are Apache Hadoop and NoSQL. Hadoop is designed for parallelizing analytical work across many servers and is ideal for the massive data volumes you create with IoT devices. NoSQL databases such as Apache HBase are ideal for storing and retrieving IoT data as “time series data.”
Clearly the way forward is to move to cloud be it bare metal, VMs or containers. One aspect of the current public clouds that is slowing this cloud migration is cloud lock-in. Every cloud vendor is trying to make it very difficult to move out once a customer has chosen their cloud. In his session at 17th Cloud Expo, Naveen Nimmu, CEO of Clouber, Inc., will advocate that making the inter-cloud migration as simple as changing airlines would help the entire industry to quickly adopt the cloud wit...
As the world moves towards more DevOps and microservices, application deployment to the cloud ought to become a lot simpler. The microservices architecture, which is the basis of many new age distributed systems such as OpenStack, NetFlix and so on, is at the heart of Cloud Foundry - a complete developer-oriented Platform as a Service (PaaS) that is IaaS agnostic and supports vCloud, OpenStack and AWS. In his session at 17th Cloud Expo, Raghavan "Rags" Srinivas, an Architect/Developer Evangeli...
DevOps is gaining traction in the federal government – and for good reasons. Heightened user expectations are pushing IT organizations to accelerate application development and support more innovation. At the same time, budgetary constraints require that agencies find ways to decrease the cost of developing, maintaining, and running applications. IT now faces a daunting task: do more and react faster than ever before – all with fewer resources.
SYS-CON Events announced today that VividCortex, the monitoring solution for the modern data system, will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. The database is the heart of most applications, but it’s also the part that’s hardest to scale, monitor, and optimize even as it’s growing 50% year over year. VividCortex is the first unified suite of database monitoring tools specifically desi...