Sezzle signs partnership deal with Plaid
Buy now, pay later fintech Sezzle has signed a partnership deal with Visa-owned data firm Plaid.
Sezzle has joined Plaid’s data network. The partnership allows Sezzle customers easier connection between the service and their bank accounts.
The fintech also says Plaid will help Sezzle to lower its processing costs by routing consumer payments by the Automated Clearing House (ACH).
“Plaid’s goal of making money more accessible for everyone aligns with our mission of financially empowering the next generation,” says Charlie Youakim, Sezzle CEO.
Sezzle raised $60 million earlier this month, as part of an ongoing expansion into Australia.
The start-up launched its lending platform in 2017 in the US. It then expanded its offering to Canada.
In July 2019, the US fintech launched an oversubscribed initial public offering (IPO) on the Australian Securities Exchange (ASX).
Visa’s $5.3 billion acquisition of Plaid is under investigation by the UK’s Competition and Markets Authority (CMA).
The regulator said it is “considering whether it is or may be the case” that this transaction has resulted in “a substantial lessening of competition” in the UK’s markets.