Thinking about Sezzle for your online buys? Before you decide, it’s important to know what it is and if it’s real. Here are the facts behind this popular payment option. How does it work? Is it legitimate? Read on to find out!
- 1 Overview of Sezzle
- 2 Pros and Cons of Sezzle
- 3 Is Sezzle Safe?
- 4 Sezzle Fees and Interest
- 5 Alternatives to Sezzle
- 6 FAQs about: Is Sezzle Legit
Quick facts: Is Sezzle Legit
- ✅ Sezzle was founded in 2016 and is one of the first installment payment companies in the US (Forbes)
- ✅ Over 7,000 online stores accept Sezzle as a payment option (Sezzle)
- ✅ Sezzle has processed over 20 million orders to date (Sezzle)
- ✅ Sezzle has over 4.5 million customers (Sezzle)
- ✅ Sezzle is rated ‘Excellent’ by customers on Trustpilot (Trustpilot)
Overview of Sezzle
Sezzle is a payment solution that helps customers buy goods and services online. It’s an online payment provider for both shoppers and merchants. With Sezzle, customers pay in easy installments over a few weeks.
Merchants who use Sezzle get more sales, improved cash flow and lower costs than traditional payment options like credit cards or bank transfers. Customers can use Sezzle without needing a credit card or loan. It also has fraud prevention measures and customer assurance tools to protect both shoppers and merchants from fraud.
Sezzle also has high customer satisfaction ratings and customer support.
What is Sezzle?
Sezzle is a financial tech company based in Minnesota. Their mission is to give shoppers the ability to buy now and pay later, without a traditional credit card. Sezzle divides purchases into four interest-free payments, with the first one due at check-out.
Customers can use Sezzle on products from participating merchants such as apparel, food, home goods, sporting goods, etc. Sezzle also rewards customers for future purchases. Plus, their customer service team is available 24/7 if help is needed with accounts or purchases.
How does Sezzle work?
Sezzle is an online payment platform. It lets customers buy stuff in four equal parts – without interest or extra costs. It links to customers’ credit and debit cards, so payments can be made in chunks. Sezzle also has a rewards program. Customers get points for shopping with Sezzle. They can check their points balance on the Sezzle app and redeem them.
Sezzle has great features too – like fraud detection, encryption, real-time payment alerts, mobile-friendly checkout and customizable merchant integrations.
Pros and Cons of Sezzle
Sezzle is a payment option gaining traction among shoppers. It lets people buy goods and services online, split into four installments without interest. Pros include no credit check or history needed and being more affordable than credit cards. Cons include keeping track of multiple payments and some retailers not accepting Sezzle. So, carefully weigh the pros and cons before choosing this payment option.
Pros of Sezzle
Sezzle is a payment service that lets customers buy items and pay in four installments over six weeks – no interest or fees! It provides the freedom to buy now and pay later, so shoppers can afford items they’d otherwise not be able to.
Benefits of using Sezzle include:
- no interest
- no minimum spend
- an online dashboard to track payments
- a generous referral program that rewards customers $10 for each successful referral sign-up.
Sezzle is perfect for shoppers who need extra purchasing power!
Cons of Sezzle
Sezzle has one main disadvantage: not all stores accept it. Currently, Sezzle supports around 8,000 merchants. But if the store you want to shop at isn’t supported, you can’t use Sezzle.
Also, there could be fees like late fees for missed payments or returned payment fees for failed payments. This is common for installment payment services.
Finally, Sezzle has a strict approval process. Depending on your credit report and financial situation, you may be denied access. This protects shoppers from fraud. But some people may be disappointed when they can’t get approved.
Is Sezzle Safe?
Safety is key when deciding on Sezzle as a payment option. It’s a financial tech firm with installment payments available in the US, Australia and New Zealand.
Sezzle use bank-level encryption for user data. They also meet the PCI Security Standards Council’s Data Security Standard (DSS). Plus, AI and machine learning help with fraud-fighting. Customers get identity authentication for debit/credit card purchases, and immediate refunds if declined.
Sezzle offer top-notch safety – so it’s a secure payment option.
Sezzle’s Security Features
Sezzle offers an alternative to traditional credit cards. It helps individuals increase their credit score. Sezzle uses advanced security protocols, encrypting customer data and storing it in an offsite facility, using multi-factor authentication, IDS, firewalls, antivirus and SSL encryption technology. All payments are processed by PCI DSS compliant payment gateways.
Sezzle also offers PIN/password protection and identity verification to ensure customers feel secure.
Sezzle’s Fraud Protection
Is Sezzle legit? To help customers feel secure, Sezzle includes a fraud protection system. It checks credit and identity info provided at checkout. If suspicious activity is detected, customers must answer security questions. If they don’t pass the check, payment is declined. They must provide more info to complete purchase.
Sezzle’s fraud protection helps ensure a safe shopping experience.
Sezzle Fees and Interest
Sezzle Fees and Interest are two important parts to think about when looking at the ‘buy now, pay later’ payment choice. Sezzle Fees are the amount a customer pays for using the service. Normally, these fees range from 5-10% of the total purchase.
Sezzle Interest is a flat fee that is applied to orders more than 40 dollars. This fee is currently set at 20%. But, orders under 40 dollars don’t have interest.
In comparison to other payment options, Sezzle does not have any added fees or hidden costs. This makes it easier for customers to plan their Sezzle payments and make sure they can pay off their balance in time.
Sezzle charges merchants 4.75% + 25c per order. This is higher than other payment options like PayPal and Venmo, which offer higher processing fees but no extra transaction fees.
Sezzle works on a flat-fee model. This means fees are always the same, no matter the order size or amount. So if you’re looking for an affordable way to accept payments, Sezzle might not be best. But it can still be a good choice if you want to give customers more options without spending too much.
Sezzle’s Interest Rates
Sezzle is a trendy payment option. It splits your purchases into four parts. No interest or hidden fees. But, some consumers doubt its legitimacy.
Sezzle provides an easy to use platform. Customers can buy things without going into debt. No added costs. Fees range from 6-10%. This depends on the purchase amount.
Sezzle does not charge a fixed interest rate. Its fees grow with each installment payment. This is visible in your next split summary. You can save money by paying early. That way, you won’t pay additional fees over time.
Alternatives to Sezzle
Sezzle is a popular way to pay for things over time. But there are other options available! Afterpay, Klarna, PayPal Payments, and Quadpay all offer convenience and flexibility. Check out the features and limitations of each before you commit. And make sure the company is legit by reading reviews.
Affirm is a buy-now, pay-later company. Customers can choose to pay over three, six, or twelve months. Depending on the merchant, they offer promotional financing with 0% interest or extended payment plans. They give shoppers real-time decisions on loan amounts and monthly payments.
Affirm makes sure customers are aware of their terms and conditions. They have an online portal and email/text notifications to keep track of transactions and payments.
Klarna is a secure payment provider that offers customers an alternative to traditional payment methods. It’s similar to Sezzle, allowing customers to split purchases into four smaller payments, with no interest or fees. Their mission is to make online payments effortless and secure.
To do this, they use encryption, multi-factor authentication, and advanced fraud protection systems. Klarna also adheres to the EU’s General Data Protection Regulation (GDPR). They collect sensitive financial information from customers, but never store it on their servers. Instead, it’s kept in a safe and secure environment.
Afterpay is a payment option similar to Sezzle. Buyers can split payments into four parts and pay in interest-free installments. To use this service, customers must be over 18 and have a valid debit or credit card. Afterpay is available in Australia, the UK, Ireland, and New Zealand. It works for both online and in-store purchases. There may be an added fee for late payments, depending on the country’s Afterpay policies. The company partners with top brands and retailers to offer exclusive deals to Afterpay users.
FAQs about: Is Sezzle Legit
Q1: Is Sezzle safe to use?
A1: Yes, Sezzle is a secure payment platform that is compliant with all necessary security regulations. Sezzle also offers fraud protection and encryption to secure your data and personal information.
Q2: Does Sezzle charge any fees?
A2: Sezzle does not charge any fees to sign up or use the platform. However, retailers may charge a small fee for using Sezzle as a payment method.
Q3: Are there any limits on Sezzle purchases?
A3: Yes, Sezzle has a maximum purchase limit of $2,000 per transaction. However, this limit may be different depending on the retailer.