Buy now, pay later (BNPL) platform Sezzle announced Thursday (Oct. 14) it’s broadening its partnership with credit bureau TransUnion to let users establish and build credit based on their Sezzle repayment history.
“This recognition is a direct result of Sezzle’s steadfast determination to create a payment platform that both empowers shoppers and supercharges brands’ performance,” said Charlie Youakim, CEO of Sezzle. “We are honored that, once again, our customers have voiced their support for Sezzle as the most trusted Buy Now, Pay Later.”
As America recovers from a year of economic uncertainty, many consumers find themselves with damaged credit which may limit their ability to borrow money at affordable rates or even open a store credit card. According to PYMNTS research, these consumers face numerous challenges, not just in meeting their day-to-day expenses due to limited credit options, but also in accessing the credit lines which would allow them to purchase basic necessities.
Payments platform LaCore Payment Technologies will now offer a buy now, pay later (BNPL) option to its merchants via a strategic partnership with Sezzle. The company pointed to Sezzle’s growing popularity and its “easy-to-use BNPL solution” as a trusted option for its merchants’ needs — “a must for our clients.”
Sezzle, a leader in the Buy Now, Pay Later industry, today announces its partnership with consumer brands group THG, which will provide THG brands with Sezzle’s next-gen financing solution. Sezzle welcomes THG to its community of over 40,000 innovative brands.
Payment platform Sezzle said it has confidentially submitted a draft registration statement for an initial public offering (IPO) to the U.S. Security and Exchange Commission, according to a press release. Neither the number of shares or price has been revealed. The IPO will likely take place after the SEC completes its review process, subject to market conditions.
CEO of Sezzle, Charlie Youakim, believes Sezzle’s novel approach to credit scoring can help it capture a big opportunity by extending credit to those who may not qualify for it elsewhere, and in turn, fill a void created by banks that have struggled to move in that direction as a result of heavy industry oversight. (edited)
Merchants are increasingly offering buy now, pay later and other options, and if they aren’t implementing them now, they risk losing customers to those that do. To that end, BigCommerce has named Sezzle as its preferred BNPL provider amid growing demand for the payment option.
Sezzle’s mission is to financially empower next-gen consumers, and to do so by democratizing financial freedom. Sezzle Capital is a natural next step in the company’s mission––providing an unparalleled program to merchants through responsible lending.
Buy now, pay later (BNPL) is an increasingly popular installment payment option that has been upgraded for the digital age. Consumers used to pay for items on layaway, but today BNPL has transformed installment-based purchasing to include perks, such as the ability to pay for travel and a potential boost to credit scores.