tech.mn – Sezzle announces partnership with Alliance Data’s Bread
Continuing a series of partnerships, Sezzle announced its association with Alliance Data’s Bread service. Bread will now offer its installment loan product through Sezzle’s merchant network.
Alliance Data acquired Bread for $ 450 million in a cash transaction in 2020 to expand its digital offerings. With the new partnership, Bread’s white-label digital payment platform will exist alongside Sezzle for “Sezzle and its more than 40,000 merchants and future partners more options at checkout.” The companies plan to launch the new service in early 2022.
“Sezzle is B Corp certified and is on a mission to financially empower buyers by creating transparent and top-notch experiences,” Charlie Youakim, CEO of Sezzle, said in a statement. “It also includes a focus on building credit and financial education, as well as sustainability, social good and ethical partnerships that are increasingly important to next-generation consumers. By providing Bread’s installment payment solution to customers, we can leverage our buy-now, pay-later success, and expand our product line to include additional installment loan options that give ambitious and expensive buyers more. means to pay.
Bread installment loans have flexible terms (3-48 months) and offer interest rates as low as 0% (some loans and qualified customers). The loans guaranteed by the partnership will come from Comenity Capital Bank.
You can read the press release below or more information on Sezzle’s new partnership with Bread, and don’t miss Sezzle’s previous coverage.
COLUMBUS, Ohio and MINNEAPOLIS, Oct. 25, 2021 / PRNewswire / – Alliance Data Systems Corporation (NYSE: ADS), a leading global provider of data-driven marketing, loyalty and payment solutions, and Sezdle Inc. (ASX : SZL), a top-rated, goal-oriented BNPL (buy now, pay later) solution, today announced that Alliance Data’s Bread business will offer its installment loan product through the network of traders from Sezzle. Through this integrated partnership, Sezzle will leverage Bread’s deep underwriting and installment loan product to reach more high-priced customers, while providing a full range of products to its merchant partners.
Acquired by Alliance Data in December 2020, Bread is a leading payment technology company that enables seamless payment experiences. Its white-label digital payment platform will work alongside Sezzle to offer Sezzle and its more than 40,000 merchants and future partners more options at checkout.
“Sezzle is B Corp certified and is on a mission to financially empower buyers by creating transparent and top-notch experiences,” said Charlie Youakim, CEO of Sezzle. “It also includes a focus on building credit and financial education, as well as sustainability, social good and ethical partnerships that are increasingly important to next-generation consumers. By providing Bread’s installment payment solution to customers, we can leverage our buy-now, pay-later success, and expand our product line to include additional installment loan options that give ambitious and expensive buyers more. means to pay.
With convenient terms (3-48 months) and interest rates starting at 0% for select loans and qualifying customers, Bread Installment Loans will complement Sezzle’s existing product buy now, pay later, while speeding up simultaneously growth opportunities for both companies. Through this partnership, Bread will initiate loans through its subsidiary Comenity Capital Bank.
“We approach our products and experiences from a consumer perspective, and this alliance is a testament to not only the strength of Bread’s scaled product, but also its modern technology and simple, user-friendly experiences,” said Val Greer, executive vice president and commercial director. , Alliance Data. “This agreement allows Bread and Sezzle to expand their reach and generate mutual growth, while giving more merchants the tools to be successful by attracting a variety of customers and basket sizes.”
Sezzle, which includes merchants like Target and Bass Pro Shops in its customer list, expects Bread to be available to its merchants in early 2022. For more information, visit sezzle.com or breadpayments.com.
About Alliance data
Alliance Data® (NYSE: ADS) is a leading provider of data-driven marketing, loyalty and payments solutions serving large consumer-driven industries. The company creates and deploys personalized solutions that measurably change consumer behavior while driving the growth and profitability of some of today’s best-known brands. Alliance Data helps its partners create and increase customer loyalty across multiple touchpoints using traditional, digital, mobile and emerging technologies. Based in Columbus, Ohio, Alliance Data is an S&P MidCap 400 company comprised of companies that together employ approximately 8,000 associates at more than 45 locations around the world.
Alliance Data’s Card Services business is a comprehensive provider of private label, co-brand, general purpose and corporate credit card programs, digital payments including Bread®, and financial services from Comenity brand. LoyaltyOne owns and operates the AIR MILES® reward program, Canada’s most recognized loyalty program, and Netherlands-based BrandLoyalty, a global provider of tailor-made loyalty programs for grocers. You can find more information about Alliance Data at www.AllianceData.com.
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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 of millions of active consumers by offering interest-free payment plans in online stores and in stores.
This increase in consumer purchasing power leads to increased sales and basket size for the more than 40,000 active merchants who offer Sezzle.