The Zilch BNPL Solution Plan
Zilch buy-now-pay-later (BNPL) card sign-ups continue to rise, leading the enterprise to close its funding for a unique payment system scale-up. It launched its first BNPL card in 2019, allowing clients to make payments with zero fees and shop at online retail outlets that receive Mastercard.
With our most recent Series B funding bringing in a whopping $80 million, it’s great to see BNPL startups like us be able to keep raising capital with continued investor confidence in the space as we aim to change the way we pay over time, anywhere 🚀https://t.co/NMhKVOKSwA
— Zilch (@PayZilch) June 11, 2021
Reviewers call Zilch the next shopping revolutionary since it has a virtual card with zero percent interest rate and can shop at over 10,000 online retailers including Adidas, Topman, Amazon, Nike, GAME, iTunes, and eBay. Customers can use the card to pay 25 percent of the product price, and the balance can be paid in over six weeks. They announced shopping in-store would be available soon.
Zilch has funded the BNPL scheme with $10 million to enhance its growth. This approach allows it to connect with customers instead of retailers. It will also expand customer reach, building a pay system to accommodate the growing number of customers.
To deliver an effective payment solution, Zilch has partnered with Mastercard. The partnership has led to Zilch Virtual Mastercard, which has enabled its customers at any online retailer. Customers in the UK can sign up with their email addresses, mobile phone numbers, postal addresses, and debit card details. Once they sign up, they are issued with a virtual card instantly.
Zilch is currently redefining BNPL by allowing clients to pay overtime. Though it relies on various third parties, it provides instant access and doesn’t require integrations. Unlike other credit cards, it has no interest fee, late fees, and expensive interest rates.