Sezzle is an alternative to credit card payment which is often one of the only method of payment available for online purchases. The deferred payment allows you to buy now and pay later. When you place an order, Sezzle will automatically pay in full the vendor you purchased from. Sezzle's system calculates and establishes a payment reimbursement plan according to your account. In most cases, Sezzle will ask you to pay 25% of the purchase price followed by 3 deferred 25% payments every two weeks.
Is this for real?
And yet, there are no pitfalls and no interest charges, contrary to what you might think. In addition, Sezzle's credit check does not affect your credit score - they rather perform an informal inquiry
If I have a poor/low credit score, will Sezzle turn me down?
Sezzle doesn't only rely on credit scores. The company takes into account other elements such as: your ability to pay (it is absolutely necessary to have 25% of the puchase price in your bank account), you've been a Sezzle customer or how long?, the number of Sezzle purchases that are still open, to name just a few. You can read more about it here
How do I know if Sezzle will accept me?
First, it is mandatory to have the 25% of the purchase price in your bank account. You should know that Sezzle analyzes each request individually, so even if one of your order is not accepted, the next one could be! The more orders you place with Sezzle, which are paid in full, the more likely you are to have your next order accepted by Sezzle.
Is Sezzle safe?
Yes ! Sezzle uses quarterly PCI (Payment Card Industry) compliance audits. This protects the security of your personal information, data and order data. For more information on Sezzle’s security, click here.
A little bit of background history
In 2019, a very serious expert (reference here) predicted that deferred payment methods would be a must in online commerce. Just two years ago, these payment options were still very new in North America, unlike many other countries. Today, Sezzle has more than 12,000 merchants who offer this payment option; in terms of customers (i.e., the people who actually take advantage of this payment option), the company has more than 1.48 million.
Why does it work?
One of the reasons behind Sezzle's success is that it is an alternative to credit cards which are often the only method of payment available for online shopping. In the United States, more and more young adults (18 to 29) are abandoning credit cards to avoid over-indebtedness.
How did Sezzle become successful?
The American company developed the Australian market, where a competitor and the use of deferred payments were already established.
We like counter-intuitive things around here!
To read more on the history of Sezzle, it's here!