Fintech payment platform company Sezzle (ASX:SZL) has announced it has partnered with US data network operator Plaid.
The company says the partnership will help reduce its processing costs and improve consumer experience by enabling payments via the automated clearing house system (ACH) instead of card networks.
Sezzle reported a June quarter operating cash profit of US$4.3 million yesterday.While the company didn’t disclose its net transaction margin, it said it’s on a positive trajectory.
“Plaid’s goal of making money more accessible for everyone aligns with our mission of financially empowering the next generation,” Sezzle CEO and Executive Chairman Charlie Youakim said.
Sezzle’s shares have more than quadrupled in 2020 and are now trading 1.42% higher at $7.86.