Solution helps Sezzle users establish and build credit
Sezzle, the leading Buy Now, Pay Later solution, announces the expansion of an existing partnership with TransUnion that will allow users to establish and build credit using their repayment history with Sezzle.
The agreement supports financial empowerment by providing Sezzle users with a new way to build their credit file and improve their credit score. Sezzle users who become eligible for the program, called Sezzle Up, will have their repayment behavior submitted to TransUnion, allowing Sezzle users with thin credit, poor credit, or no credit history at all to take a much-needed step toward their financial wellbeing.
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“Building our users’ credit scores has been a goal for our team since day one – it’s our most progressive step yet in our pursuit to democratize financial freedom. The majority of our users are what we at Sezzle call ‘prime-to-be.’ People who may have been left behind – the underbanked and underserved. These are people who are most in need of a financial product that can spread payments out over time without incurring interest,” remarked Sezzle CEO, Charlie Youakim. “Now, in addition to giving users a smarter way to pay, we’ll be able to reward them for their financial responsibility, and in doing so, help them establish and build the formal credit that we know they deserve.”
Sezzle Up will help empower users who qualify for the upgrade to see their available spending limit with Sezzle, increase that limit over time, and enable Sezzle to share the User’s payment history with TransUnion in order to help establish and build formal credit.
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“Credit is a vital tool to not only shape your financial future, but to realize life’s biggest opportunities. Through this partnership, Sezzle users will be able to establish their credit and develop healthy financial habits to manage debt responsibly,” said Liz Pagel, senior vice president of consumer lending at TransUnion. “Consumers will be empowered to gain a better understanding of their financial situation and can take positive steps to build their financial resume.”
As a B Corp, Sezzle is pleased to continue to take strides toward financially empowering the next generation by extending Sezzle Up as a means for users to take control over their spending, be more responsible, and gain access to financial freedom.
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