Zilch Redefining the Buy Now Pay Later System

January 7, 2022 0 Comments

Zilch, based in London, is changing the BNPL (Buy Now Pay Later) market by allowing customers to pay later. Philip Belamant, Chief Executive Officer, and Serge Belamant, the Chairman, aimed to have a Buy Now Pay Later market that did not have to rely on third parties but could offer interest-free products.

Since implementing the new Buy Now Pay Later in August 2019, shoppers can purchase from the main retailers without incurring extra charges. This has increased sign-ups and led them to close the new funding to raise the unique payment system. With the unique payment system, shoppers can shop online at any major retailer that accepts Mastercard. They can spread out their payments as well without additional charges. Some of the online retailers that accept Mastercard include Amazon, Nike, Adidas, eBay, Sports Direct, and many more.

Zilch recently announced a successful 10 million US Dollars funding to accommodate the over 15,000 new customers who sign up monthly. This will allow the financing enterprise to connect with the shoppers directly rather than retailers. Zilch and Mastercard formed a strategic partnership whereby customers can use a Zilch Virtual Mastercard to buy from all online retailers that accept Mastercards.

Zilch aims at helping customers manage their cash flows suitably for their timeline. Philip Belamant noted that the high need for installment cards initiated the unique payment system in developing economies like South America, South Africa, and others. They believe this generation should have whatever they want without being financially disadvantaged.