Priority Payment Systems to Offer Sezzle Alternative Payment Method
Priority Payment Systems LLC is rolling out Sezzle, Inc.'s alternative payment solution to Priority partners and merchants. Sezzle's "Buy Now, Pay Later" product is now available for integration with all of Priority's eCommerce merchants.
ALPHARETTA, Ga., Oct. 4, 2018 /PRNewswire-PRWeb/ -- Sezzle's "Buy Now, Pay Later" solution is an innovative technology that enables shoppers to pay for eCommerce purchases in four interest-free installments. Through Sezzle's platform, shoppers are able to spread payments out over six weeks—with no interest or initiation fees. Sezzle pays the merchant in-full, upfront, and assumes all repayment risk.
Merchants are turning to new alternative payment platforms like Sezzle to reduce cart abandonment, increase conversion, and lift basket sizes. Founded in 2016, Sezzle has partnered with more than 1,800 online retailers, including 686, CocoMelody, and Joah Brown. Sezzle is processing more than 10% of the order volume at many of its merchant partners' sites and lifting average order values by an average of 20%.
Alternative payment options like Sezzle also allow merchants to reach new consumers, particularly younger consumers. According to a 2016 Bankrate study, only one in three millennials have a credit card. Merchants who offer alternative payment options are able to reach more of these millennial consumers. Approximately 80% of the more than 100,000 shoppers on Sezzle's platform are under the age of 35.
"Sezzle's flexible payment option has enabled us to convert a lot of customers that would have abandoned their carts," said Brent Sandor, Marketing Director at 686. "Our products are very popular with young consumers, but its hard for some of them to afford the full purchase price, and Sezzle enables them to budget and spread their purchase over time."
"We're excited to offer our clients and their merchants a new alternative payment method, providing more choices for consumers and differentiation in the marketplace," said John V. Priore, C.E.O of Priority Payment Systems.
"Priority's scale and breadth in eCommerce makes them an excellent financial services partner for Sezzle," said Charlie Youakim, Founder and CEO of Sezzle. "We look forward to working with them and their clients to grow sales and drive customer loyalty."
Priority Payment Systems merchants will now be able to add Sezzle's technology directly into their product pages and checkouts.
About Sezzle
Sezzle is a cutting-edge, rapidly growing fintech company whose mission is to financially empower young consumers. Sezzle's payment platform increases purchasing power for consumers by offering interest-free installment plans at online stores. This increase in purchasing power for consumers leads to increased sales and basket sizes for the 1,800 eCommerce merchants that currently work with Sezzle. For more information visit sezzle.com.
About Priority Payment Systems
Priority Payment Systems LLC is one of the fastest growing payment technology companies in the U.S. Priority was founded in 2005 with a mission to build a merchant-inspired payment platform that would advance the goals of its small and mid-sized business partners. Priority is headquartered in Alpharetta GA and has more than 174,000 merchants and processes more than 39 billion electronic transactions annually.
Contacts
Chris Dolan
Sezzle
651-243-8809
[email protected]
Product Sales
Priority Payment Systems
[email protected]
SOURCE Priority Payment Systems
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