Sezzle Expands Credit-Building Service to Canada
Sezzle is now offering its credit-building service Sezzle Up in Canada.
Already available in the United States, Sezzle Up now enables users of Sezzle’s buy now, pay later (BNPL) solution in Canada to opt in to report their payment behavior to credit reporting agencies, thereby helping to build their credit, according to a Thursday (Dec. 29) press release.
“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,” Sezzle Canada General Manager Patrick Chan said in the release.
Sezzle Up is designed to help consumers overcome the Catch-22 of being unable to get their first credit product because they lack a credit history, according to the release.
With this credit-building service, Sezzle shoppers in Canada who have completed one full order payment can opt in to Sezzle Up, have their repayment behavior submitted to Equifax Canada, and establish or build a credit history, the release said.
In addition to building their Equifax credit profile, users of the service can also view their spending limit with Sezzle, per the release.
“Helping underserved communities, youth, new to Canada, and others with little to no credit history is our focus at Equifax,” Equifax Canada Chief Data Officer Sandy Kyriakatos said in the release. “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.”
Sezzle Canada reported in April that it had expanded its mobile app to allow purchases from Walmart, Indigo, HomeSense, Uber and other merchants.
The addition of these high-profile merchants gives Sezzle Canada customers more choices when it comes to making their online purchases, the company said April 7.
“In just two years, Sezzle has led the way for major adoption of buy now, pay later in the Canadian market,” Chan said at the time. “Given our growing user base, we are thrilled to extend purchasing power to shoppers at an array of well-known retailers in which the company is not in direct partnership. For those retailers, Sezzle is delivering new customers and incremental sales, so it’s a win-win.”