BNPL 2.0 is coming to America – Zilch reinvents installment payment plans, no interest or late fees and cashback

MIAMI–(BUSINESS WIRE)–Nothing, a next-generation payments platform and Buy Now, Pay Later (BNPL), with a BNPL 2.0 business model that works directly with consumers and has no fees or late fees as well as $2 instant cashback rewards %, was launched in the United States with more than 150,000 pre-registered customers. Zilch is accepted wherever Mastercard can be used.

Zilch’s arrival in the US comes after reaching more than two million customers in the 18 months since its UK launch, making it one of the fastest growing fintechs in the world. world and one of the largest providers of BNPL in this country. Meanwhile, Zilch has raised $400 million in debt and equity from Goldman Sachs and others, earning it a valuation of over $2 billion in its most recent Series C funding round. .

Using a blend of Open Banking technology combined with flexible credit checks and its own proprietary behavioral data every time a customer spends allows Zilch to develop a real-time view of a consumer’s financial health. . This allows Zilch to create a 360 degree picture of a customer’s accessibility profile and provide accurate, personalized spending recommendations.

Along with its launch, Zilch is partnering with Experian to pioneer reciprocal payment plan reporting to the Credit Reporting Agency (CRA) data set. This is designed to help ensure the financial health of consumers by providing greater transparency and accuracy, while rewarding customers for responsible behavior to build credit scores.

“In 2020, American consumers paid $120 billion in credit card fees and delays, which we believe are unacceptable and fundamentally inconsistent with consumer interests,” said Philip Belamant, CEO and co-founder of Zilch. “They are set up to fail and need more flexibility, especially during a cost of living crisis and a time of soaring inflation, to pay for goods and services how and when they want – with a system that avoids late payments and unnecessary and costly expenses.”

BNPL’s payment and financing programs are gaining popularity around the world because they facilitate consumers’ ability to make purchases when needed and pay for them at a later date, often without interest.

“Our experience in the UK and the survey we conducted here in the US clearly shows that US consumers expect much more from providers of BNPL, what we call BNPL 2.0 – removing what consumers don’t like not (lack of ubiquity/fees and/or late fees) Zilch also gives what consumers say they value – cash back, which can be used to discount larger purchases,” Belamant added.

Zilch customers can pay over six weeks, in four installments, or in one installment. In particular, customers who pay in full benefit from offers and cashback, giving consumers the freedom and benefits of credit services, without any cost. Through its partnership with Mastercard, Zilch can be used by 38.7 million retailers worldwide.

Industry-Leading Strategic Partners

One of the keys to Zilch’s growth has been its successful partnerships with industry-leading companies across the fintech spectrum. These partnerships form the behind-the-scenes foundation that enables Zilch to provide consumers with an easy and transparent way to pay for goods and services in the way that best suits them.

“Zilch is emblematic of the innovative, disruptive and fast-growing fintech that we seek to build long-term relationships with,” said Gilles Gade, Founder, President and CEO of Cross River. “Cross River’s technology opens up opportunities for partners across the fintech ecosystem, and a partner like Zilch helps drive financial inclusion and access to responsible credit.”

“Zilch has packaged the BNPL customer experience that has been so popular into an easy-to-use virtual card, with spending controls tailored to each individual user,” said Vidya Peters, Chief Operating Officer at Marqeta. “We felt their product was a close match with Marqeta and the payment innovations our modern card issuance platform enables. We look forward to supporting them as they launch their product in the US market.

Guillaume Pousaz, Founder and CEO of, said, “With a rapid rise to success in the BNPL space, Zilch has taken a bold and innovative approach to helping consumers afford the goods and services they need. US-based payments processor, is proud to support Zilch’s regional expansion with our unique API – and we look forward to fueling its global growth in the months and years to come. »

US headquarters based in Miami

To support US expansion and operations, Zilch opened a Miami headquarters led by Zilch US CEO Albert Periu. Mr. Periu and Zilch believe the US market for the company’s services could grow to as many as 125 million people and plan to scale the business accordingly. Zilch plans to hire more than 100 employees in the United States over the next year.

“We are thrilled to be fully operational from Zilch’s US headquarters in Miami, as the city’s entrepreneurial spirit and diverse talent provide an excellent home for the company’s growth in the United States” , said Albert Periu, CEO of Zilch US.

Currently, Zilch’s Miami office employs teams in various departments of the company, including operations, engineering, marketing, design, and human resources.

About Zilch:

Born to create the world’s most empowering way to pay, now, pay later” (BNPL) and the payments industry with innovative products that empower customers to manage their cash responsibly. Zilch partners directly with consumers rather than merchants, allowing customers to pay by debit or credit anywhere Mastercard is accepted. Zilch offers its customers the best ways to pay – credit or debit – save money and get money back – schedule refunds with reminders and/or even snooze payments at no cost.

Zilch uses a unique blend of world-class CRA data, Open Banking and its own proprietary behavioral data technologies to make active consumer lending decisions every time a client spends to drive accountability. This creates a real-time 360 ​​degree view and assessment of a customer’s affordability.

Since its launch in September 2020, the company has amassed over two million customers in the UK and is adding over 250,000 new users per month. Additionally, Zilch is the fastest European company to go from Series A to dual unicorn status in just 14 months.

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