Fintech company Sezzle has partnered with Visa to offer its deferred payment solution to online merchants through the CyberSource payment management platform.

As part of the alliance, CyberSource merchants can provide Sezzle’s ‘buy now, pay later’ (BNPL) solution, which is meant to aid businesses in rising sales and basket sizes.

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Customers will be able to use the interest-free payment solution to split their online purchases into four instalments over six weeks. Sezzle added that the deferred payment solution does not affect credit scores.

CyberSource senior vice-president and global head of product Andre Machicao said: “Instalment payment plans have taken off across the world as a popular way for consumers to get what they need while sticking to their budget, and now our merchant clients can easily offer instalment solutions.

“Visa is committed to enabling new forms of payment innovation across the e-commerce ecosystem. Sezzle’s instalment solution is rapidly growing among Gen Z and millennial consumers and is proven to dramatically reduce cart abandonment.”

Sezzle CEO and co-founder Charlie Youakim said: “We believe CyberSource’s scale and reputation with e-commerce stores make them an ideal partner to further fuel our rapid growth. We look forward to working with them to provide online merchants – and their customers – with a payment experience that drives revenues and increases consumer loyalty.”

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Sezzle noted a profitable first half of 2019 in its first earnings report. The company has 5,793 active merchants, who had around 15% growth from 30 June 2019 to 31 July 2019.