BNPL continues to make news. Lots of corporate jostling and partnerships. Banks and rails are positioning themselves for the gold rush.
Discover is in the game buying $30 million shares of Sezzle .There is a quid pro quo: Sezzle will be riding the Discover rails providing Buy Now Pay Later services to card holders and Sezzle will roll out a referral programme to push Discover credit and debit cards to Sezzle users.
Discover will invest $30 million into Sezzle, based on a per share purchase price of $6.58, which equates to total shares to be issued of 4,556,210.
Sezzle works with more than 34,000 merchants to offer interest-free installment payment plans to a user base of over 2.6 million shoppers.