UK BNPL unicorn Zilch prepares for US launch

Ahead of its imminent launch in the US, London-based fintech Zilch has joined the Financial Technology Association (FTA) in order to prioritize innovation through responsible products and services.

Zilch offers alternative credit options at no interest or cost to its customers, using open banking data, CSR data, and behavioral information technologies in decision making. Fintech is also one of the first UK BNPL providers to be regulated in the UK BNPL and has doubled due to the fact that health and financial education are at the heart of their business model.

With more than two million users in just 18 months, Zilch joined 20 other free trade agreements with fintech after creating BNPL 2.0 and partnering to offer this service in up to 40 million locations or anywhere with Mastercard. Zilch also allows its customers to pay at once and receive immediate rewards or pay in four to six weeks without interest and fees.

The FTA also represents other BNPL providers Afterpay, Figure, Klarna, Sezzle, and Zip, and earlier this year sent a letter of comment to the Consumer Financial Protection Bureau explaining how committed its members are to buy now, pay later in ensuring access to responsible payment options.

Philip Belamant, CEO and co-founder of Zilch, said: “Zilch was one of the first BNPL providers in the UK to be regulated because the financial condition was built at the core of our business model. That’s why we are excited to work with the Financial Technology Association”

Belamant continued: “This is a very important time when economic change is creating a crisis in the cost of living. Consumers need innovative payment options and are aware of better options for more responsible consumption and lending. We are excited to partner with like-minded fintech companies to pursue a modern fiscal policy that enables responsible and consumer-friendly change.

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