May 17, 2022
BNPL 2.0 Comes to America - Zilch Reinventing Installment-Payments Plans, With No Interest or Late Charges and Cashback Rewards
Offers First-Of-Its-Kind Reciprocal Credit Reporting Relationship with Experian, Providing Greater Transparency Around Customer Affordability
Launches With Over 150,000 Pre-Registered Customers
MIAMI, FLA. - Zilch, a next-generation payments and Buy Now, Pay Later (BNPL) platform, with a BNPL 2.0 business model that works directly with consumers and features no fees or late charges along with 2% instant cashback rewards, has launched in the US with over 150,000 pre- registered customers. Zilch is accepted everywhere Mastercard can be used.
Zilch’s arrival in the US comes after growing to over two million customers in the 18 months since it launched in the UK, making it one of the world’s fastest growing fintechs and largest BNPL providers in that country. During that time, Zilch raised $400 million in debt and equity from Goldman Sachs and others, giving it a valuation of over $2 billion at its last Series C funding round.
Utilizing a blend of Open Banking technology combined with soft credit checks and its own proprietary behavioral data each time a customer spends allows Zilch to develop a real-time view of a consumer’s financial health. That enables Zilch to create a 360 degree picture of a customer’s affordability profile, and provide accurate, individualized spending recommendations.
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