Sezzle (ASX:SZL) is a technology driven, buy now, pay later (BNPL) credit provider. The company states its mission as financially empowering the next generation. It provides a payments platform that facilitates fast, secure and easy payments between consumers and retailers.
Sezzle’s payment product is a short-term, interest-free instalment plan that delivers both a budgeting and financing value proposition to consumers. The Sezzle platform allows end-customers to make online purchases and effectively split the payment for the purchase over four equal, interest free payments over the course of six weeks.
Sezzle’s end-clients can use its credit in more than 7,500 online and physical stores including Bodega, Jessica Simpson and Akira as well as with integrations on major e-commerce sites like Shopify, Salesforce, WooCommerce and Visa’s Cybersource.
Sezzle said it had processed $US228 million ($318 million) in underlying merchant sales for the September quarter, up 21.4 per cent from the second quarter. That’s an annualised run rate of $US985.9 million, putting the payment processor on pace to easily achieve its year-end goal of $US1 billion.