back Back

Ally offers financing experience on retail payments platform Sezzle

By Pavithra R

May 19, 2021

  • Ally
  • America
Share

Ally offers financing experience on retail payments platform SezzleAlly Lending, the personal lending arm of Ally Bank, the banking subsidiary of Ally Financial has announced offering its financing on retail payments platform Sezzle. 

According to Sezzle, the integration is the first of its kind and enables select shoppers to choose to pay over time using Ally’s longer-term, fixed-rate installment loans or Sezzle’s buy-now-pay-later, installment offerings. Ally’s financing extends to purchases up to $40,000 with 3-60-month terms.

“People expect to be able to pay over time when they check out. By blending our fintech platform with the strong banking foundation of Ally Bank, we’re now able to give people that option,” said Hans Zandhuis, head of Ally Lending.

The launch comes at a time when e-commerce is on the rise and are embracing alternative payment options. Sezzle’s core product enables consumers to pay for retail goods over a 6-week period with no interest or fees. Ally Lending’s offerings will expand upon Sezzle’s financing options, offering longer loan terms for higher ticket transactions.

Ally Lending is available for purchases in categories such as home furnishings, jewelry and sporting goods. Shoppers using the Sezzle platform will see “financed by Ally” during checkout when an installment payment plan is available from Ally Lending.

“We’re on a mission to financially empower the next generation. With Ally Lending’s personalized, flexible financing solutions now available on our platform, we’re able to offer even more options for consumers to budget their purchases and responsibly pay for what they want and need,” said Charlie Youakim, executive chairman and CEO of Sezzle.

Founded in 2016, Sezzle is a public-benefit corporation on a mission to financially empower the next generation. Its payment platform offers interest-free instalments for up to 6 weeks and increases the purchasing power for users across the U.S. and Canada at online stores and selected in-store locations.

Previous Article

May 19, 2021

Glenhawk selects Finastra Fusion Essence Cloud to grow lending business

Read More
Next Article

May 19, 2021

VIALET selects Tribe Payments for issuer and acquirer processing service

Read More






IBSi Daily News Analysis

UAE, money transfer

June 14, 2024

Ally

Digital remittances surge as key lifeline amid global economic challenges, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 14, 2024

CredAble bags $3.5m from SIDBI to finance India’s MSMEs & Women-Led enterprises

Read More

June 14, 2024

Liberis & Paytrail offer revenue-based financing to Finnish e-businesses

Read More

June 14, 2024

Avaloq & Comyno team up to launch securities financing solution

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023