Sezzle Becomes First Buy Now, Pay Later in Canada to Offer Free Credit-Building to Users

Sezzle Up, an opt-in service that enables shoppers to report their payment behaviour to credit reporting agencies and help build their credit, now available for Sezzle Canada Users

MINNEAPOLIS, Dec. 29, 2022 /CNW/ -- Sezzle Inc. (ASX: SZL) (Sezzle or Company) // - Sezzle, a Buy Now, Pay Later solution in Canada, today announces the expansion of Sezzle Up, a consumer credit-product, into the Canadian market.

For Canadians who are either credit unserved or underserved, the lack of a credit score and any history of credit activity can create barriers to get their first credit product, as many lenders are hesitant to extend credit to consumers without any credit history or score. Consumers may face a catch-22 situation –– unable to get that first credit product when they lack a credit history. Sezzle Up gives consumers the opportunity to build their credit profile if they choose to do so, bridging the gap between the credit underserved and the ability to use and build credit wisely.

Any Sezzle shopper in Canada that has successfully completed one full order payment can opt-into Sezzle Up. With Sezzle Up, shoppers will be able to build their Equifax credit profile and view their spending limit with Sezzle.

Eligible Sezzle Canada users who elect to join the program have their repayment behavior submitted to Equifax Canada, allowing Sezzle users with good credit, thin credit, poor credit, or no credit history at all to establish or build a much-needed credit foundation for their financial wellbeing.

"Building our users' credit profiles has been a goal for our team since day one - it's our most progressive step yet in our pursuit to democratize financial freedom,'' remarked Sezzle Canada GM, Patrick Chan. "Sezzle Up's credit-building feature is a monumental pillar of our commitment to a consumer-first product and furthers our commitment to financially empower the next generation with more tools to build their credit."

"Helping underserved communities, youth, new to Canada, and others with little to no credit history is our focus at Equifax. We're modernizing the financial system to match today's realities," said Equifax Canada's Chief Data Officer, Sandy Kyriakatos. "We also believe in educating consumers and giving them control of their financial future. As part of that mission, we are thrilled to be working with Sezzle. This type of data can be powerful for consumers in Canada, helping their credit health."

To learn more and enroll in Sezzle Up Canada, visit your customer dashboard on the Sezzle App or visit https://my.sezzle.com/sezzle-up/ for more information.

Explore Sezzle's wide selection of Canadian merchants here.

To learn more about how Sezzle enables shoppers to increase basket sizes, reach out to our team here.

About Sezzle Inc.

Sezzle is a fintech company on a mission to financially empower the next generation. Sezzle's payment platform increases the purchasing power for consumers by offering a suite of financing solutions at online stores and in-store locations. When consumers apply, approval decisions are made in real time, and their credit scores are not impacted, unless the consumer elects to opt-in to a credit building feature, called Sezzle Up.

Sezzle US Media Contact:
[email protected]

SOURCE Sezzle