BigCommerce has added a new partner to deliver buy now, pay later (BNPL) services on behalf of merchants.
Sezzle, a BNPL provider that serves more than 34,000 active merchants worldwide, will now provide BNPL service to BigCommerce's small and mid-market merchants that wish to offer interest-free payment plans to support their customers.
BigCommerce vice president of payments, Mark Rosales, points to US data that found 60% of US shoppers have used BNPL financing for an online purchase. In Australia, BNPL makes up 13% of all online transactions.
“Merchants are increasingly adopting these solutions for their eCommerce stores in response to customer demand, especially younger consumers who find the instalment-based model attractive,” explains Rosales.
“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.
Consumers can use BNPL services to build credit, and it also means that high-risk borrowers also have an opportunity to purchase goods, risk-free. Merchants receive full payment upfront less a ‘minimal' fee, assuming that there is no credit or fraud risk on purchases.
By providing a new payment alternative alongside other payment methods, merchants give buyers the financial flexibility to purchase with or without a credit card, BigCommerce adds.
Sezzle is now natively integrated as a payment gateway in the BigCommerce Control Panel. Merchants can enable Sezzle within the Control Panel to display a Sezzle widget at the checkout stage.
Sezzle takes 25% of the order price at the time of purchase, and three more 25% instalments over six weeks.
Sezzle's chief revenue officer Veronica Katz adds, “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.
Sezzle states that it is dedicated to financially empowering younger consumers through credit building and financial education. The company was recently certified as a B Corp for its ethical business model.
BigCommerce provides services across 150 countries. Customers including Ben - Jerry's, Molton Brown, S.C. Johnson, Skullcandy, Sony and Vodafone use BigCommerce for their online stores. The company is headquartered in the US and has offices in Australia and the United Kingdom.