US-based instalment payments platform Sezzle has begun the limited tests of its buy now, pay later (BNPL) services with retailer Target.
Under the proof of concept (POC), few visitors of Target.com will test the Sezzle platform’s efficacy in two product categories for Target’s retail operations.
Previously, Target also worked with Australia’s Afterpay on similar instalment payment options for online shoppers.
No details regarding the duration or extent of these tests have been divulged.
In a press release, Sezzle noted: “The POC is preliminary in nature and does not represent any guarantee of a future commercial contract.
“Sezzle will provide a further update to the market at the conclusion of the POC, with the timing of this not yet known.
“This announcement was approved by the Company’s CEO and executive chairman Charlie Youakim, on behalf of the Sezzle board.”
Sezzle offers interest-free instalment payments to its users. Users can split their purchases into four such payments over the course of six weeks.
This will not affect customers’ credit scores if they pay the instalments in time.
Sezzle facilitates BNPL services for over 16,000 active merchants in the US and Canada. It serves as many as 1.6 million customers.
It is being claimed that the service helps in reducing the online shopping cart abandonment among shoppers.
Earlier this month, Sezzle rolled out a virtual card to offer interest-free instalments solutions to customers for both in-store and online purchases.
Last month, the Texas-based company announced plans to foray into the Indian market by the end of this year.