MINNEAPOLIS & RIVERWOODS, Ill.--(BUSINESS WIRE)--Discover, a digital banking and payments services company, and Sezzle, Inc. (ASX:SZL), an installment payment platform, have announced an agreement that will allow Sezzle to work with selected merchants on the Discover Global Network in offering consumers additional payment options.
This relationship is Discover Global Network’s latest partnership in the buy now, pay later space and Sezzle’s latest partnership with one of the four major card networks in the US market. Select US merchants will be able to offer their customers an interest-free buy now, pay later option through Sezzle’s platform, with little to no upgrades to their existing payments systems. These merchants will have the option to process buy now, pay later transactions on the Discover Global Network.
“Our partnership with Discover will help to further accelerate our business development efforts by connecting our team with Discover and its established relationships,” said Paul Paradis, an Executive Director and the President of Sezzle.
“Our merchant partners are always a top priority and we know that providing them with additional payment options, such as a buy now, pay later structure, can be beneficial, especially in the current economic environment,” said Jason Hanson, senior vice president of global business development and acceptance at Discover. “We are able to leverage our unique technology capabilities and vast network of merchant relationships to provide Sezzle the ability to grow its business and provide new payment opportunities.”
Discover Global Network has more than 48 million merchant acceptance locations and two million ATM and cash access locations around the world. Discover is accepted by 99% of places that take credit cards in the United States.* The Discover Global Network includes Discover Network, Diners Club International, PULSE and more than 20 alliance partner networks across the globe. To learn more about merchant solutions visit: https://www.discoverglobalnetwork.com
Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance around the world. For more information, visit www.discover.com/company.
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 more than 2.2 million active consumers, by offering interest-free installment plans at online stores and select in-store locations. Sezzle’s transparent, inclusive, and seamless payment option allows consumers to take control over the spending, be more responsible, and gain access to financial freedom. When consumers apply, approval is instant, and their credit scores are not impacted, unless the consumer elects to opt in to credit reporting via a credit building feature called Sezzle Up.
This increase in purchasing power for consumers leads to increased sales and basket sizes for the more than 26,000 active merchants that offer Sezzle.
For more information visit sezzle.com.
Sezzle’s CDIs are issued in reliance on the exemption from registration contained in Regulation S of the US Securities Act of 1933 (Securities Act) for offers of securities which are made outside the US. Accordingly, the CDIs, have not been, and will not be, registered under the Securities Act or the laws of any state or other jurisdiction in the US. As a result of relying on the Regulation S exemption, the CDIs are ‘restricted securities’ under Rule 144 of the Securities Act. This means that you are unable to sell the CDIs into the US or to a US person who is not a QIB for the foreseeable future except in very limited circumstances until after the end of the restricted period, unless the re-sale of the CDIs is registered under the Securities Act or an exemption is available. To enforce the above transfer restrictions, all CDIs issued bear a FOR Financial Product designation on the ASX. This designation restricts any CDIs from being sold on ASX to US persons excluding QIBs. However, you are still able to freely transfer your CDIs on ASX to any person other than a US person who is not a QIB. In addition, hedging transactions with regard to the CDIs may only be conducted in accordance with the Securities Act.
If you are interested in learning more about Sezzle consumer habits and buying patterns amid COVID-19, contact Sezzle media.
*According to the Feb 2020 issue of the Nilson Report