Sezzle exits India

Friday 8 April 2022 14:54 CET | News

US-based BNPL provider Sezzle has informed merchants of its decision and requested them to deactivate the service from their respective websites.

Sezzle is shutting down its India operations from 9 April 2022 as part of a restructuring exercise in line with its parent company. During its business in India, the company has partnered with more than 1,000 brands in India, including the likes of Titan, Fastrack, and Plum. It was working closely with direct-to-consumer (D2C) brands.

However, as part of providing after-services, Sezzle told clients that it would continue to provide shopper support and merchant support until 9 May 2022. Officials stated that there would be no impact on refunds/returns transactions which will be processed as in the normal course of business.

In February 2022, Australian BNPL firm Zip signed a definitive agreement to acquire Sezzle, valuing it at around USD 491 million. The deal is expected to close by the end of October 2022. Zip is also an investor in Indian BNPL startup ZestMoney.

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Keywords: BNPL, instalment payments, merchants, ecommerce
Categories: Banking & Fintech
Companies: Sezzle
Countries: India
This article is part of category

Banking & Fintech


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