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

SAN DIEGO, CA--(Marketwired - Mar 25, 2014) - 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."