Sezzle’s Growth in Canada Continues
Sezzle Surpasses 500k Canadian User Mark in Just Four Years
Toronto, Canada, July 18, 2023 (GLOBE NEWSWIRE) —- Over 500K Canadians have made at least one purchase using Sezzle
- Over 280K Canadians have paid with Sezzle more than once
- Sezzle is the highest-rated and most-reviewed BNPL app in Canada
- Almost 30K Canadians have enrolled in Sezzle’s credit-building product, Sezzle Up.
Sezzle Inc. (ASX: SZL) (Sezzle or Company) // – Sezzle, a leader in digital payments, today shares the advancement of its Canadian operations. In just four years, the Company has amassed over 500,000 consumers in Canada and the Sezzle app has consistently been the highest-rated BNPL app on the Canadian App Store.
More than three-quarters of Canadians (78 percent) say their personal finances have worsened due to inflation, and just over half (54 percent) say they’re living paycheck to paycheck, according to a survey released by BDO Canada. Sezzle believes that providing a Responsible Way to Pay™ is now more important than ever – and Canadian shoppers are flocking to the flexibility and credit autonomy that Sezzle’s financing solution brings.
“Everything Sezzle does involves working with our team to help achieve our goals. We love partnering with the Sezzle team to deliver – whether that’s acquiring new customers, tapping into Sezzle’s marketing capabilities, driving conversions, or just increasing our brand equity through the partnership,“ said Sherdeep Singh, CEO, at Parts Avatar, Canada’s largest online auto parts store. “We have been working with Sezzle since 2020, and our customers have been clamoring to their interest-free financing option since day one.”
Sezzle’s core financing product provides an interest-free solution for Canadians to pay over time and simultaneously provides the opportunity to build credit via Sezzle Up. In a recent global survey completed by TransUnion, data showed that over 9 million Canadians are either credit unserved or underserved. The lack of a credit score and any history of credit activity creates barriers for these unserved consumers to get their first credit product, as many lenders are hesitant to extend credit to consumers without any credit history or score. Consumers face a catch-22 situation –– unable to get that first credit product when they lack a credit history. Sezzle Up gives consumers the opportunity to build their credit score if they choose to do so, bridging the gap between the credit underserved and the ability to use and build credit wisely.
With over 500,000 consumers in Canada having used Sezzle at least once, and nearly 300,000 using Sezzle to complete a purchase more than once – Sezzle’s growth in the Canadian market is evident. Further, over four thousand merchant retailers throughout Canada, spanning a wide array of sectors, offer Sezzle’s interest-free, pay-in-four solution. This significant milestone exhibits the rapid adoption of Sezzle’s payment solution, given its still-recent entrance into the Canadian market. As consumer loyalty continues to grow for Sezzle within Canada and its retail partners, the top 10% of Canadian shoppers who use Sezzle are transacting using Sezzle 23 times per year, on average.
“Since the beginning of operations in Canada four years ago, shoppers have clamored to use Sezzle’s Buy Now, Pay Later solution. Inflation is affecting Canada just as much as the rest of the world – and with that, for many comes the financial distress of living paycheck to paycheck. Sezzle eases the burden of this cycle,” said Sezzle Canada GM, Patrick Chan. “We have seen consistent growth from merchants and shoppers alike in Canada, and we look forward to continue providing financial empowerment to those that need it most.”
To learn more and enroll in Sezzle Up Canada, visit your customer dashboard on the Sezzle App or visit https://my.sezzle.com/sezzle-up/ for more information.
Explore Sezzle’s wide selection of Canadian merchants here.
To learn more about how Sezzle enables shoppers to increase basket sizes, reach out to our team here.
About Sezzle Inc.
Sezzle is a 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 in-store locations. 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.. Sezzle now offers a full suite of payment options including pay in 4 and long-term options.
For additional assets and news on Sezzle please visit https://my.sezzle.com/news/
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Sezzle US Media Contact:
Erin Foran
Tel: (651) 403-2184
Email: [email protected]
CONTACT: Erin Foran Sezzle 6514032184 [email protected]
