BigCommerce Partners With Sezzle Inc. as its New Preferred Buy Now, Pay Later Partner

Rhea-AI Summary

BigCommerce (Nasdaq: BIGC) has partnered with Sezzle Inc., a fintech company, to provide small and mid-market merchants with a new buy now, pay later (BNPL) solution. This integration allows merchants to offer interest-free payment plans, enhancing shopping experiences, especially for younger consumers and high-risk borrowers. With a simple click in the BigCommerce Control Panel, merchants can activate the BNPL option. Sezzle caters to over 45 million U.S. users, facilitating credit building through responsible payments.

Positive

• Partnership with Sezzle enhances payment options for merchants.
• Interest-free payment plans support consumer credit building.
• Attracts a new generation of buyers who prefer alternative payment methods.

Negative

• None.

BigCommerce (Nasdaq: BIGC), a leading Open SaaS ecommerce platform for fast-growing and established brands, today announced fintech company Sezzle Inc. as a new preferred buy now, pay later (BNPL) partner. Small and mid-market BigCommerce merchants will now have the ability to offer interest-free payment plans that support smart, risk-free shopping for consumers, including high-risk borrowers and younger shoppers looking to build credit and buy with a purpose.

Sezzle is also dedicated to financially empowering younger consumers through credit building and financial education, and was recently certified as a B Corp for its ethical business model.

“With 60% of U.S. shoppers having used BNPL financing for an online purchase, 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 a preferred BNPL partner.”

With Sezzle natively integrated as a payment gateway in the BigCommerce Control Panel, merchants can enable the BNPL option with a single click to display a Sezzle widget at checkout. Sezzle then collects 25% of the order price from the consumer at time of purchase, followed by three additional automated 25% installments over the course of six weeks. Key benefits include:

• Risk-free selling. Merchants receive full payment upfront less a minimal fee, assuming no credit or fraud risk on purchases.
• Alternative payment options. By providing a new payment alternative alongside other payment methods, merchants give buyers the financial flexibility to purchase with or without a credit card.
• Attract new buyers. More than 45 million people ages 14 and older in the U.S. will use BNPL services this year, giving merchants the opportunity to appeal to a new generation of buyers seeking to try a new payment method to overcome limitations such as cash flow or credit.

“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 Veronica Katz, chief revenue officer at 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.”

To learn more about how BigCommerce and Sezzle Inc. are working together to provide merchants with a valuable BNPL solution, visit https://www.bigcommerce.com/dm/sezzle/.

About BigCommerce

BigCommerce (Nasdaq: BIGC) is a leading software-as-a-service (SaaS) ecommerce platform that empowers merchants of all sizes to build, innovate and grow their businesses online. As a leading open SaaS solution, BigCommerce provides merchants sophisticated enterprise-grade functionality, customization and performance with simplicity and ease-of-use. Tens of thousands of B2B and B2C companies across 150 countries and numerous industries use BigCommerce to create beautiful, engaging online stores, including Ben & Jerry’s, Molton Brown, S.C. Johnson, Skullcandy, Sony and Vodafone. Headquartered in Austin, BigCommerce has offices in San Francisco, Sydney and London. For more information, please visit www.bigcommerce.com or follow us on Twitter, LinkedIn, Instagram and Facebook.

BigCommerce® is a registered trademark of BigCommerce Pty. Ltd. Third-party trademarks and service marks are the property of their respective owners.

About Sezzle Inc.

Sezzle is a rapidly growing fintech company on a mission to financially empower the next generation. Sezzle’s payment platform increases the purchasing power for millions of consumers by offering interest-free installment plans at online stores and select in-store locations. Sezzle’s transparent, inclusive, and seamless payment option allows consumers to take control over their spending, be more responsible, and gain access to financial freedom. When consumers apply, approval is instant, and their credit scores are not impacted, unless the consumer elects to opt-in to a credit building feature, called Sezzle Up. This increase in purchasing power for consumers leads to increased sales and basket sizes for the more than 34,000 Active Merchants that offer Sezzle. For more information visit Sezzle.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210803005065/en/

FAQ

What is BigCommerce's new partnership announced in October 2023?

BigCommerce has announced a partnership with Sezzle Inc. to offer a buy now, pay later (BNPL) solution for its merchants.

How does the new BNPL service from BigCommerce work?

Merchants can enable the BNPL option with one click in the BigCommerce Control Panel, allowing customers to pay in installments.

What benefits does Sezzle provide to BigCommerce merchants?

Sezzle offers risk-free selling by paying merchants upfront and helps attract a new demographic of buyers looking for flexible payment options.

How many users are expected to use BNPL services in the U.S. this year?

Over 45 million people aged 14 and older in the U.S. are projected to use BNPL services this year.