Affirm jumps 20pc on Target deal, Sezzle partnersShares in...

Affirm jumps 20pc on Target deal, Sezzle partners

Shares in US-focused buy now, pay later player Sezzle could be worth watching this morning after its partnership launched with US retail giant Target ahead of the holiday shopping season. Sezzle first announced the news on June 3.

Target’s other buy now, pay later partner Affirm soared 20 per cent on the Nasdaq overnight on the partnership’s launch. Affirm boasts a market cap around $US36.3 billion, versus its junior rival Sezzle at $975 million.

“With the help of two new partners — Sezzle and Affirm — we’ve added new payment solutions that let you buy what you need now, take advantage of our best deals, and pay at a pace that works well for you,” Target’s president of financial and retail services Gemma Kubat said. “Through our partnerships with Affirm and Sezzle, Target is investing in new financial tools that make our shopping experiences more flexible and personalized to guests’ needs, right in time for the holiday season.”

Sezzle shares are down 38 per cent over the last six months after its final quarter of FY 2021 disappointed investors.

The group also said it’s making good progress in the Canadian market and now has 3000 Canadian merchants and 10,000 cross-border merchants.