Globalgroup Investment Holdings launches online layaway service

Credit alternatives and time-payment options

Texas-based Globalgroup Investment Holdings Inc (GIHI), a technology solutions provider for payment and collection services, is launching America’s Layaway Mall (ALM) online merchandise layaway shopping programme (view press release). ALM utilises GIHI proprietary GlobalLok technology and will provide an online shopping alternative for consumers, offering products at more affordable prices through credit alternatives and time-payment options. The service will accept a number of payment options which will be available upon launch.

The ability to layaway major purchases had been well publicised by major retailers in past decades but faded in popularity with the proliferation of credit card usage. Recently, many large retailers revived their layaway option on select merchandise but only for the holiday season,” said Fred Rackers, president of GIHI. “GIHI has determined that there is a significant need for year-round layaway services for consumers shopping not only for ordinary household goods but for other special occasions such as birthdays, anniversaries and graduations as well.”

Anticipated revenues for 2013 are expected to be around USD3 million. ALM will expand the choice of products and brands and start rolling out new selections including electronic, computer and jewellery brands in Q3.

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