BNPL fintech Sezzle applies for US national bank charter

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Sezzle, a US-based buy now, pay later (BNPL) fintech, has filed an application for a national bank charter with the Office of the Comptroller of the Currency (OCC) and submitted a corresponding application to the Federal Deposit Insurance Corporation (FDIC) for deposit insurance.

If approved, the proposed entity, Sezzle Bank, N.A., would offer a "broad range of banking products and services, including FDIC-insured deposit accounts, checking and savings accounts, and credit products", states Sezzle.

"Sezzle Bank would focus on digitally native consumers, including those new to credit, and who tend to avoid using more traditional credit products such as credit cards, to provide a choice of lending options," the company adds.

Founded in 2016, Sezzle offers a range of point-of-sale financing and digital payment solutions built around its core Pay-in-4 service, which lets shoppers split purchases into four interest-free instalments over six weeks.

Related:Ramp applies for US national trust bank charter

This year, the company expanded its offering with a cash advance product, SezzleCash; a peer-to-peer payment tool, Sezzle Send; and a phone plan called Sezzle Mobile.

The fintech's active user base has grown to over 3.2 million and, according to its Q2 2026 financial results, its total revenue has increased by 51.7% YoY to $149.7 million.

Sezzle's application follows a broader trend this year, with several US fintech companies, including Ramp, Modern Treasury, and Rain, also applying to the OCC to pursue their own national bank charters.

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