BigCommerce Partners With Sezzle To Offer BNPL

Open SaaS eCommerce platform, BigCommerce, has entered a partnership with fintech company, Sezzle Inc., to give small and medium-sized businesses the ability to offer interest-free payment plans.

“The majority of our users are shoppers who don’t have access to or have avoided using traditional credit cards, but are still looking for a budget-friendly way to make purchases,” said Charlie Youakim, CEO of Sezzle Inc. “Partnering with BigCommerce will provide this buying power for our customers, helping them build their credit while they get the products they need.”

The offering is aimed at helping merchants monetize a growing trend: Consumers spend more when paying with a buy now, pay later ( BNPL) service than with a credit card.

“ With 60% of U.S. shoppers having utilized BNPL financing for an online purchase within the last year, merchants are increasingly adopting these solutions for their eCommerce stores in response to customer demand, especially younger consumers who find the installment-based model attractive,” said Mark Rosales, vice president of Payments at BigCommerce.

“There are a number of BNPL providers in the market right now, but Sezzle’s commitment to giving consumers a responsible way to slowly build credit without taking on large amounts of debt was a key differentiator in deciding to make them our preferred BNPL partner.”

BigCommerce merchants who opt to utilize the Sezzle solution can enable the BNPL option at checkout with a single click. When customers choose to pay with the BNPL option, Sezzle collects 25 percent of the order price from the consumer at the time of purchase, followed by three additional automated 25 percent installments over the course of six weeks.

In addition to the BNPL offering, Sezzle also offers credit building and financial education tools and has been recently certified as a B Corp for its ethical business model.

Originally published at https://retailbum.com on August 3, 2021.