Banyan - September 2023

Sezzle and WooCommerce Expand BNPL Partnership

Sezzle, WooCommerce Expand Tie-up to Help Merchants Offer BNPL

Buy now, pay later (BNPL) provider Sezzle and open-source eCommerce platform WooCommerce expanded their partnership.

The collaboration aims to provide WooCommerce merchants with an easier integration process for Sezzle’s BNPL solution, offering customers more payment options, the companies said in a Tuesday (Sept. 19) press release.

Through Sezzle’s payment platform, WooCommerce merchants can offer a suite of BNPL choices to their customers, regardless of the price point, according to the release. Eligible merchants can integrate Sezzle’s payment solution into their online stores immediately.

“We believe our partnership will provide an exceptional user experience for online shoppers, while also driving incremental sales and reducing cart abandonment for WooCommerce merchants,” Sezzle CEO and Co-founder Charlie Youakim said in the release.

The tie-up also allows customers to build their credit responsibly, aligning with Sezzle’s mission of financially empowering the next generation, according to the release.

“Sezzle’s mission to financially empower individuals with choice and opportunity aligns closely with our aims to democratize eCommerce by providing a solution that is widely accessible, whilst helping our merchants to grow their stores,” WooCommerce General Manager of Payments Keala Gaines said in the release.

PYMNTS Intelligence found that BNPL impacts consumers’ decisions when shopping. For example, 40% of consumers would delay a purchase or opt for a cheaper substitute if BNPL were not offered, according to “The Credit Accessibility Series: BNPL’s Wide-Ranging Impact on Consumers and Merchants,” a PYMNTS and Sezzle collaboration.

Sezzle’s payment platform offers a range of financing solutions both online and in stores, the release said. One of the features of Sezzle’s solution is an instant approval decision, with no impact on customers’ credit scores unless they choose to opt-in to the credit building feature, known as Sezzle Up.

WooCommerce powers 20% of the top online stores, per the release. Built on WordPress, it allows businesses worldwide to sell anything with “unlimited extensibility, flexibility and control” over their operations.