The Sezzle Inc (ASX: SZL) share price has been a positive performer this week.
Over the last three trading sessions, the buy now pay later (BNPL) provider’s shares have risen 3.5%.
Why is the Sezzle share price rising this week?
There appear to have been a couple of catalysts for the rise in the Sezzle share price this week.
One is the release of its full year results on Monday. Although much of this result was pre-released earlier in the month, investors appear to have been pleased with some of management’s comments.
For example, in its report it reminded investors of its major deal with Discover Financial Services.
It said: “On July 14, 2021, Sezzle agreed to issue Discover Financial Services LLC $30,000,000 of the Company’s common stock at a price of $6.58 per share (A$8.83), which was completed on July 19, 2021. The Company and Discover are finalizing a definitive commercial agreement, in which the parties propose to enter into an expanded partnership, including plans for a buy now, pay later network solution on the Discover Global Network, as well as a dedicated referral program introducing Discover credit and debit products to the Company’s consumer base.”
This has the potential to give its customer numbers and underlying merchant sales a major boost once operational. Which could be good news for the Sezzle share price.
What else has been happening?
Also potentially giving the Sezzle share price a boost is an announcement out of the company yesterday.
According to the release, Sezzle is partnering with California Pet Pharmacy, an accredited online pet pharmacy dispensing pet medications to all 50 states.
The partnership will see Sezzle become the preferred BNPL option for California Pet Pharmacy. This will allow pet owners to create a healthy lifestyle for their pets without the financial burden that comes with purchasing expensive pet medications.
Sezzle’s Chief Revenue Officer, Veronica Katz, commented: “We are very pleased to launch our partnership with California Pet Pharmacy. As the Buy Now, Pay Later space heats up, the necessity for consumers to split payments in a safe and reliable way is growing across all industries.”
Management notes that debuting BNPL in pharmaceuticals and pet care is a natural next step for Sezzle as it focuses on bringing flexible payments to consumers across all verticals.
The Sezzle share price is up 5% in 2021.