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- Fintech plater Sezzle (SZL) has signed a three-year agreement with retail giant Target following the end of a proof-of-concept trial
- Under the deal, Sezzle’s buy now pay later platform, which provides interest-free instalment plans to customers, will now be made available in-store and across Target’s digital platforms
- Notably, the deal with the U.S.-based retail leader comes weeks after Sezzle floated plans to list in the U.S.
- It appears the U.S. is shaping up to be a battleground between fintech favourites, with ASX-listed BNPL frontrunners Zip Co (Z1P) and Afterpay (APT) also turning their attention stateside in the past year
- SZL shares have leaped up this morning following news of the deal, trading 14.3 per cent higher at $8.57 per share
Fintech player Sezzle (SZL) has signed a three-year agreement with retail giant Target following the end of a proof-of-concept trial.
Under the deal, Sezzle’s buy now pay later platform, which provides interest-free instalment plans to customers, will now be made available in-store and across Target’s digital platforms.
Sezzle struck up the proof-of-concept trail back in September, which included limited testing with a few Target.com users to evaluate the efficacy of Sezzle’s offering.
Notably, the deal with the U.S.-based retail leader comes weeks after Sezzle unveiled plans to list in the U.S. Sezzle’s ASX-listed shares have more than tripled since IPO-ing around $2.40 per share back in mid-2019, and the company appears keen to try and recreate this success in the U.S.
Target, which trades under the ticker ‘TGT’ in the U.S. in an $112 billion cap, is the second NYSE big-hitter to strike a recent deal with Sezzle. Through an agreement with Ally Financial’s lending branch unveiled late last year, Sezzle will begin offering longer-term loans to accompany is traditionally short-term lending model.
It appears the U.S. is shaping up to be a battleground between fintech darlings, with other BNPL frontrunners Zip Co (Z1P) and Afterpay (APT) also turning their attention state-side in the last year.
SZL shares have leaped up this morning following news of the deal, trading 14.3 per cent higher at $8.57 per share at 11:37 am AEST.
