David Ades, EVP, GM and Head of Sales North America, Bank America Merchant Services

Bank of America Merchant Services, announced that it has been chosen by Sezzle as their digital card processor for the company and its clients. Sezzle will use Bank of America Merchant Services’ global payment platform powered by Visa’s CyberSource.

Sezzle’s “Buy Now, Pay Later” solution is a technology that enables shoppers to split eCommerce purchases into four interest-free instalments. Through Sezzle’s platform, shoppers can spread payments out over six weeks, at no additional cost. Sezzle pays its merchant client in full, upfront, and assumes all repayment risk. The Minneapolis, MN-based buy now pay later solution recently raised $5.6M in funding.

“We are looking forward to working with Bank of America Merchant Services. They are a leading innovator in the digital e-commerce space which makes them an ideal provider for Sezzle as we rapidly scale in the North American market,” said Charlie Youakim, Founder and CEO of Sezzle. “We look forward to working with them to help our merchants increase sales and customer loyalty.”, he added.

Bank of America Merchant Services is a merchant services company owned by partners Bank of America and First Data. It is among the largest payments processing companies in the United States based on card-transaction volume. It processes 17.3 billion transactions at more than 700,000 merchant locations throughout the U.S., Canada and Europe.

“We’re thrilled to provide our payment solutions to this exciting business,” said David Ades, EVP, General Manager and Head of Sales North America at Bank America Merchant Services. “Sezzle has a deep understanding of consumer shopping behaviours and financial needs – and their offering really hits home with millennials.”

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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