Leading open SaaS ecommerce platform, BigCommerce has announced fintech company, Sezzle, as a new preferred buy now pay later (BNPL) partner, allowing merchants to offer interest-free payment plans to consumers.
With Sezzle natively integrated as a payment gateway in the BigCommerce Control Panel, merchants can enable the BNPL option with a single click to display a Sezzle widget at checkout. Sezzle then collects 25% of the order price from the consumer at time of purchase, followed by three additional automated 25% installments over the course of six weeks.
Merchants receive full payment upfront less a minimal fee, assuming no credit or fraud risk on purchases; buyers are offered more financial flexibility; and merchants have the opportunity to appeal to new buyers seeking to try a new payment method.
According to BigCommerce vice president of payments, Mark Rosales, merchants are increasing adopting BNPL solutions for their ecommerce stores in response to customer demand, especially younger consumers who find the installment-based model attractive,
“There are a number of BNPL providers in the market right now, but Sezzle’s commitment to giving consumers a responsible way to slowly build credit without taking on large amounts of debt was a key differentiator in deciding to make them a preferred BNPL partner.”
Sezzle chief revenue officer, Veronica Katz said, “The majority of our users are shoppers who don’t have access to or have avoided using traditional credit cards but are still looking for a budget-friendly way to make purchases. Partnering with BigCommerce will provide this buying power for our customers, helping them build their credit while they get the products they need.”