Continuing a string of partnerships, Sezzle has announced its pairing with Alliance Data’s Bread service. Bread will now offer its pay-over-time installment loan product through Sezzle’s merchant network.
Alliance Data acquired Bread for $450 million in a cash-stock transaction in 2020 in a move to expand its digital offerings. With the new partnership, Bread’s white-label digital payments platform will exist alongside Sezzle’s to, “Sezzle and its more than 40,000 merchants and future partners more options at checkout.” The companies predict the new service to launch in early 2022.
“Sezzle is B Corp certified and is on a mission to financially empower shoppers by creating best-in-class and transparent experiences,” Charlie Youakim, CEO of Sezzle, said in a release. “This also includes a focus on credit building and financial education, as well as sustainability, social good and ethical partnerships that are increasingly important to next-gen consumers. By providing Bread’s installment solution to customers, we can build on our buy now, pay later success, and expand our product suite to include additional installment lending options that give aspirational and big-ticket shoppers more ways to pay.”
Bread’s installment loans have flexible terms (3-48 months) and offer interest rates as low as 0 percent (certain loans and qualified customers). Loans secured through the partnership will be originated through Comenity Capital Bank.
You can read the release below or more information about the new partnership between Sezzle and Bread, and don’t miss out on previous Sezzle 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 Sezzle Inc. (ASX: SZL), a top-rated, purpose-driven buy now, pay later (BNPL) solution, today announced that Alliance Data’s Bread business will offer its pay-over-time installment loan product through Sezzle’s merchant network. Through the integrated partnership, Sezzle will leverage Bread’s deep underwriting and installment loan product to reach more customers buying big-ticket items, while offering a comprehensive product suite to its merchant partners.
Acquired by Alliance Data in December 2020, Bread is a leading payments technology company that enables seamless checkout experiences. Its white-label digital payments platform will operate alongside Sezzle’s to give 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 shoppers by creating best-in-class and transparent experiences,” said Charlie Youakim, chief executive officer, Sezzle. “This also includes a focus on credit building and financial education, as well as sustainability, social good and ethical partnerships that are increasingly important to next-gen consumers. By providing Bread’s installment solution to customers, we can build on our buy now, pay later success, and expand our product suite to include additional installment lending options that give aspirational and big-ticket shoppers more ways to pay.”
With convenient terms (3-48 months) and interest rates starting as low as 0% for certain loans and qualifying customers, Bread’s installment loans will complement Sezzle’s existing buy now, pay later product, while simultaneously accelerating growth opportunities for both businesses. Through the partnership, Bread will originate the loans through its affiliate Comenity Capital Bank.
“We approach our products and experiences with a consumer lens, and this alliance speaks not only to the strength of Bread’s installment product, but also to its modern technology and straightforward, user-friendly experiences,” said Val Greer, EVP and chief commercial officer, Alliance Data. “This agreement allows for Bread and Sezzle to expand their reach and unlock mutual growth, while also giving more merchants the tools for success by appealing to a variety of customers and basket sizes.”
Sezzle, which includes merchants like Target and Bass Pro Shops on its client roster, expects to have Bread 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 payment solutions serving large, consumer-based industries. The Company creates and deploys customized solutions that measurably change consumer behavior while driving business growth and profitability for some of today’s most recognizable brands. Alliance Data helps its partners create and increase customer loyalty across multiple touch points using traditional, digital, mobile and emerging technologies. Headquartered in Columbus, Ohio, Alliance Data is an S&P MidCap 400 company that consists of businesses that together employ approximately 8,000 associates at more than 45 locations worldwide.
Alliance Data’s Card Services business is a comprehensive provider of market-leading private label, co-brand, general purpose and business credit card programs, digital payments, including Bread®, and Comenity-branded financial services. 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. More information about Alliance Data can be found 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 for millions of Active Consumers by offering interest-free installment plans at online stores and in-store locations.
This increase in purchasing power for consumers leads to increased sales and basket sizes for the more than 40,000 Active Merchants that offer Sezzle.