Sezzle has entered into partnerships to bring its buy now, pay later (BNPL) services to a sporting goods retailer and to hundreds of Software-as-a-Service (SaaS) platforms.
This collaboration allows the retailer’s customers to make instant purchases, with the total being broken down into four interest-free payments, according to the release.
This BNPL service features quick and easy signup online or in-store, no interest or hidden fees, a secure and reliable shopping experience, and a way for shoppers to stick to their budget, the release said.
“This partnership reflects our dedication to delivering accessibility and convenience to shoppers while emphasizing budget-friendly spending and a responsible way to pay,” Sezzle President and Co-founder Paul Paradis said in the release.
In Sezzle’s second new partnership, the company has teamed up with JustiFi, a FinTech platform for platforms, to offers its BNPL services to hundreds of SaaS platforms, thousands of merchants and millions of end users, the companies said in a Tuesday (Nov. 14) press release.
With Sezzle’s BNPL technology added to JustiFi’s white-label checkout, JustiFi’s platform partners can monetize BNPL services and offer their merchants a checkout experience that is seamless and has fewer risks of fraud, chargebacks and repayment, according to the release.
“Merchants on JustiFi’s partner platforms will be eligible for pre-approval by Sezzle, accelerating activation and reaching millions of new customers,” Sezzle CEO Charlie Youakim said in the release.
PYMNTS Intelligence has found that 16% of consumers — or 40.5 million people — in the United States used BNPL for at least one payment in April.
This payment method eased the acquisition of products or services these consumers could not otherwise afford, with 43% of them saying they would have delayed a purchase or opted for a cheaper product if BNPL was not available, according to “The Credit Accessibility Series: BNPLs Wide-Ranging Impact on Consumers and Merchants,” a PYMNTS and Sezzle collaboration.
“Whether you have customers who are using BNPL because they need to or because they are using it for budgeting, there are multiple ways to use it, and that’s why BNPL is so successful and why it’s here to stay,” Youakim told PYMNTS’ Karen Webster in an interview posted in August.