Sezzle Introduces Gamification To Aid More Timely Payments
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Sezzle has introduced a free loyalty program for customer Payment Streaks. The Buy Now, Pay Later provider aims to equip its users with the relevant tools to manage their financial commitments responsibly.
What’s exciting about the program is that it aims to gamify on-time payments. This will offer rewards to customers and encourage them to fulfill their financial commitments punctually.
Sezzle Plans To Make Payment Fun And Easy For Users
It can be difficult for customers to handle their finances responsibly. However, Sezzle’s latest idea makes it more like a game, making it fun and easy for users to pay their bills on time. With this new approach, the financial technology company is helping people pay on time and be smart with their money.
Every time a user completes a successful payment before the due date, it adds to their streak of on-time payments.
If they keep up the streak for a certain number of times within three months, they can jump up to the next loyalty level. If any customer misses a payment, they can fix it the same day to keep their current loyalty level.
According to the latest news, the program offers users numerous benefits, including entries in monthly giveaways and extra bonuses for each friend invited to Sezzle.
PYMNTS, a renowned global leader for data, insights, and news, spoke with Sezzle Chief Executive Officer, Charlie Youakim. In the discussion, Charlie revealed that the Buy Now, Pay Later (BNPL) service is considered a budgeting tool by many consumers.
Customers See The Buy Now, Pay Later Option As A Tool For Managing Cash Flow
A combined result from Sezzle and PYMNTS Intelligence shows that the majority of consumers don’t consider BNPL a credit product, but a tool for managing cash flow. BNPL has significantly gained importance as 40% of its users say they won’t make purchases if the option isn’t available. They also revealed that without BNPL, they won’t opt for huge purchases, but lesser ones.
Sezzle said that for these customers, it is vital to have some sort of financing options available. But with BNPL, they’re moving money from expensive financing to very cheap financing. The payment solution revealed that the option is a great deal for customers.
More research conducted by Splitit and PYMNTS Intelligence found that Buy Now, Pay Later is well-liked among customers, particularly the older ones.
About 81% of individuals from the baby boomer and senior age groups reveal their satisfaction with BNPL. Furthermore, 82% of bridge millennials and 86% of Generation X shoppers are highly excited about using the payment method.
For customers who fall under the younger group of individuals, a lesser percentage is recorded. About 68% of Generation Z shoppers provided good feedback on BNPL.
