Buy Now, Pay Later solution provider Sezzle partners with Ally Lending

By Pavithra R

Sezzle, a leading U.S.-based installment payments platform provider, has announced its business partnership with Ally Lending, the personal lending arm of Ally Bank, the banking subsidiary of Ally Financial.

Ally Financial is a leading digital financial services company offering financial products for consumers, businesses, automotive dealers, and corporate clients. The company enables monthly fixed-rate installment-loan products that extend up to 60 months in length and US$40k per installment plan through a fully digital application process. It is backed by Ally Bank.

“Our collaboration with Ally Lending enhances our customer financing offerings, making it possible for consumers to better manage their finances. Ally’s dedication to its customers and commitment to innovation aligns with our own vision and culture – making this partnership a good fit for us,” said Charlie Youakim, Executive Chairman and CEO of Sezzle. 

Ally’s fierce commitment to “Do Right” and “Obsess over the customer” has led to a customer NPS score of 68, underpinning their commitment to the customer. The collaboration between Ally Lending and Sezzle will give Sezzle merchants and shoppers access to long term financing options, complimenting Sezzle’s existing short-term, interest-free offering, without adding any balance sheet impact to Sezzle.

“We empathize with the economic situation millions of Americans now face. We’re proud to partner with Sezzle to offer budget-friendly, responsible financing options, so consumers can feel more secure when making the purchases they need,” said Hans Zandhuis, President of Ally Lending. 

Recently, Sezzle launched new Sezzle Virtual Cards on Apple Pay & Google Pay.

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