Sezzle Sees 3.4 Million Active Consumers for Its BNPL; Merchant Use Up 76% YOY

Sezzle reported in its fourth quarter earnings that it had seen a 76% increase in active merchants year over year.

There were 47,000 merchants now making use of the BNPL platform.

In addition, active consumers also grew by 51.5% year over year.

The report from the company says active consumers hit 3.4 million, with a continuing boost to the active consumer base made for more repeat usage, too.

There was also more international activity, with increases in Canada, Europe and India, the report says.

Sezzle executive chairman and CEO Charlie Youakim said that the results show a strong amount of growth, with the new highs in active merchants and other things.

“We are enthusiastic about our in-store growth reflecting the significant opportunity to be more than just an online option for customers,” he said.

Sezzle has also recently partnered with Genesis Credit and Oportun, with an eye towards bolstering its long-term finance product, which complements the company’s collaborations with Ally Lending and Bread/ADS, PYMNTS wrote.

See more: Sezzle Expands Long-Term Finance Product With Genesis, Oportun

The company has plans to use its expertise to draw in more shoppers.

The long-term financing options will offer shoppers a user-friendly option for higher-ticket items, offering complete transparency.

The expanded selection will give consumers more advantages as they try and get better financial health.

Youakim told PYMNTS recently that BNPL offerings could lead customers to change their purchasing behaviors.

“A consumer might have been shopping and seeing a product on your website and saying, ‘I love that product. But I’m going to budget for it. I’m going to think about buying that in a few weeks,’” said Youakim. “[With BNPL], merchants saw customers [changing] their behavior, seeing that they could buy it today with automated budgeting through the tool. They would actually make that purchase decision today.”

Read on: Sezzle on Using AI, ML Tools to Remove Fraud From the BNPL Equation