Sezzle, an Australia-based interest-free installment payment solution, has announced its solution is become available to online businesses across the world through Visa’s CyberSource payment management platform.
CyberSource merchants will be able to provide Sezzle’s zero-interest ‘buy now, pay later’ (BNPL) solution.
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The BNPL solution helps sellers to increase their sales and expand basket sizes, whilst offering no credit risk to the merchant.
The alternative payment solution of Sezzle allows shoppers to break online purchases into four interest-free installments over the course of six weeks, at zero interest.
With the Sezzle solution, consumers can shop at their stores online without affecting credit scores, incurring interest on payments, or risk of getting into debt.
CyberSource, a Visa solution, SVP of global head of product Andre Machicao said: “Installment 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 installment solutions.
“Visa is committed to enabling new forms of payment innovation across the e-commerce ecosystem. Sezzle’s installment 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 are excited to be available on CyberSource’s platform, making it easy for merchants to offer Sezzle to their shoppers.
“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.”
