Sezzle Inc. is a fintech company that has been working to revolutionize the way people pay for their online purchases. As of my last knowledge update in September 2021, Sezzle was known for its “Buy Now, Pay Later” (BNPL) platform, which allows consumers to split their online purchases into interest-free installment payments, making it easier for them to afford products and manage their budgets.
Here are some key points about Sezzle and how it was revolutionizing the payment landscape:
- Interest-Free Installments: Sezzle’s core offering allows consumers to make purchases and pay for them in four interest-free installments over six weeks. This approach offers an alternative to traditional credit cards and encourages responsible spending.
- No Credit Check: Unlike traditional credit providers, Sezzle doesn’t perform a hard credit check when users sign up. This makes it accessible to a broader range of consumers, including those with limited or poor credit histories.
- Retailer Integration: Sezzle partners with online retailers to offer its BNPL solution as a payment option at checkout. This integration increases conversion rates for merchants by making it more affordable for consumers to make purchases.
- Transparency: Sezzle is known for its transparent fee structure. Users are informed about the total cost of their purchase upfront, including any late fees, so they can make informed decisions.
- User-Friendly App: Sezzle provides a user-friendly mobile app and website for consumers to manage their purchases, view payment schedules, and keep track of their spending.
- Responsible Spending: Sezzle encourages responsible spending by assessing a shopper’s ability to repay before approving transactions. This helps reduce the risk of overspending.
- Global Expansion: Sezzle aimed to expand its services beyond North America to reach a global audience. It sought to tap into the growing demand for BNPL solutions worldwide.
- Competition: Sezzle faced competition from other BNPL providers like Afterpay, Klarna, and Affirm, which were also seeking to disrupt the traditional credit card industry.
Please note that the information provided is based on my last knowledge update in September 2021, and there may have been developments or changes in Sezzle Inc.’s business model, services, or market position since then. It’s essential to verify the latest information from reliable sources to understand Sezzle’s current status and impact on the payment industry.