Sezzle teams up with Ally Lending
The partnership will see Sezzle offer long-term installments to its merchant and consumer customers.
Installment payment platform Sezzle Inc (ASX:SZL) today announced a business partnership with Ally Lending, a lending arm of Ally Bank, the banking subsidiary of Ally Financial Inc (NYSE:ALLY).
Ally Lending enables monthly fixed-rate installment-loan products that extend up to 60 months in length and USD 40,000 per installment plan through a fully digital application process. Ally Lending is backed by Ally Bank. The culture, technology, and strong foundation of Ally Financial allow Ally Lending to continually evolve its financing products, services, and experiences.
The partnership 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,” stated Hans Zandhuis, President of Ally Lending. “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.”