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Merchant Accounts Payable | 9 Months Ended
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Sep. 30, 2025
Payables and Accruals [Abstract] |
Merchant Accounts Payable | Merchant Accounts Payable Merchant accounts payable represents amounts owed to merchants related to orders placed on the Sezzle Platform. Merchants have the ability to enroll, subject to our approval, into the Delayed Settlement Incentive Program (“DSIP”), which allows merchants to delay payment from us in exchange for daily incentive payments. Within merchant accounts payable, $43.0 million and $49.3 million were recorded within the DSIP balance as of September 30, 2025 and December 31, 2024, respectively. The average annual percentage yield and related interest expense was 4.17% and $0.5 million, and 4.95% and $0.6 million for the three months ended September 30, 2025 and 2024, respectively. The average annual percentage yield and related expense was 4.15% and $1.4 million, and 4.77% and $1.9 million for the nine months ended September 30, 2025 and 2024, respectively. Effective December 20, 2024, all delayed payments retained in the program bore daily incentive payments at a fixed rate of 4.50% on an annual basis, compounding daily. Deferred payments are due on demand, up to two hundred fifty thousand dollars during any seven day period, at the request of the merchant. Any request larger than two hundred fifty thousand dollars is processed within seven to ten days. We reserve the right to impose additional limits on the program and make changes to the program without notice or limits. These limits and changes to the program can include but are not limited to maximum balances, withdrawal amount limits, withdrawal frequency, the daily incentive rate for all or a portion of a merchant’s specific DSIP balance, and the ability for merchants to participate in the DSIP.

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