Buy now, pay later (BNPL) company Zip has announced that it is exploring acquiring installment payment platform Sezzle, according to a media release from Zip on Monday (Jan. 24).
Zip says it “confirms it is in discussions” about acquiring the other company.
“Zip is always interested in pursuing options that are in the best interests of shareholders; however the discussions with Sezzle are preliminary in nature and there is no certainty that the discussions will result in a transaction of any kind,” the release says.
The release notes that the Zip board has been committed to making sure all its transactions deliver value to shareholders.
Meanwhile, Sezzle wrote in its media release Monday that it was “engaged in preliminary discussions with Zip regarding a possible merger.”
PYMNTS recently wrote that Sezzle expanded its long-term finance product by partnering with Genesis Credit and Oportun. Sezzle plans to leverage its expertise and offer more high-ticket financing to shoppers in a bid for inclusivity within its financing product.
See also: Sezzle Expands Long-Term Finance Product With Genesis, Oportun
The new options offer shoppers transparency and an expanded selection of products. According to Genesis Credit president Mark Denman, the company wants to look at a new finance product to add more legwork in the BNPL arena.
By partnering with Genesis and Oportun, the report says customers will get more pay options, and merchants will have more options to offer affordable pay.
Meanwhile, Zip partnered with Sabre Corporation last month to help boost the global BNPL implementation.
Read more: Zip, Sabre Team to Offer Travel Payment Solution
PYMNTS reported that Sabre is working with “next-generation tech” to help out travel partners, including airlines, hotels and other travel-related businesses.
Zip has integrated with Sabre’s Global Distribution System, letting any global travel partner accept Zip in any countries where it’s available, with the goal of simplifying the checkout process.
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