The Sezzle Inc (ASX: SZL) share price has taken off over the past 2 days after the United States cult retailer Target Corporation (NYSE: TGT) launched the buy now, pay later (BNPL) service.
Those shopping with the retail giant ahead of the holiday season will now be able to pay for their purchases in instalments through Sezzle or Affirm, which is owned by Affirm Holdings Inc (NASDAQ: AFRM).
The Sezzle share price stormed 12.6% higher yesterday and is continuing to gain today.
At the time of writing, the Sezzle share price is $5.85, which is 3.54% higher than its previous close.
That means the BNPL provider’s stock is now trading for 18.66% more than it was at Wednesday’s close.
Let’s take a closer look at the news that’s got the market excited about Sezzle this week.
Sezzle share price soars on Target launch
The Sezzle share price is rocketing higher this week after Target announced it has launched the BNPL provider in-store and online.
Target shoppers can now split their payments into 4 instalments using Sezzle’s platform.
They can also split large purchases into monthly instalments using Affirm.
Sezzle announced the partnership in June after the companies signed a 3-year agreement.
Under the agreement, Sezzle can be used by customers shopping on Target.com and the Target app. Target shoppers can also use Sezzle on orders that use the retailer’s same-day fulfillment services.
Additionally, those shopping in-store can access Sezzle’s BNPL service by paying with Apple Pay, which is owned by Apple Inc (NASDAQ: AAPL), or Google Pay which is owned by Alphabet Inc (NASDAQ: GOOGL).
Target’s president of financial and retail services, Gemma Kubat, commented on the news that’s been driving the Sezzle share price over the past 2 days, saying:
We know our guests want easy and affordable payment options that work within their family’s budget.
Through our partnerships with Affirm and Sezzle, Target is investing in new financial tools that make our shopping experiences more flexible and personalised to guests’ needs, right in time for the holiday season.
The post The Sezzle (ASX:SZL) share price has leapt 19% in 2 days. Here’s why appeared first on The Motley Fool Australia.
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- Why the Sezzle (ASX:SZL) share price is storming 9% higher on Thursday
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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned.
Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Affirm Holdings, Inc., Alphabet (A shares), Alphabet (C shares), and Apple. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Alphabet (A shares), Alphabet (C shares), and Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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