Zilch
Key Data
- Trading Name: Zilch
- Legal Entity: Zilch Technology Limited
- Activities: Buy Now Pay Later Provider
- Location: United Kingdom
- Regulations: authorised and regulated by the Financial Conduct Authority
- Key People: Philip Belamant
Zilch is a financial technology company offering flexible, interest-free payment options and rewards for UK consumers. Approved by the Financial Conduct Authority, Zilch aims to make consumer credit accessible and manageable.
Zilch is a BNPL platform that makes shopping more convenient for a variety of consumer profiles, while also helping retailers gain access to a larger customer pool than they would be able to attract by other means.
Founded in 2018 by Philip Belamant in London, Zilch is a leading company in alternative finance, focusing on “Buy Now, Pay Later” (BNPL) services. It aims to revolutionize BNPL by providing transparent and responsible lending options. Zilch emphasizes informing users about the financial consequences of their actions, ensuring a seamless payment experience. The company has grown significantly, expanding to Israel with offices in Tel Aviv.
Offering
Zilch’s core offer is an interest-free payment platform that allows users to make upfront purchases and spread their costs over a number of manageable instalments.
After partnering up with a wide network of retailers, such as JD Sports, Amazon, and H&M, Zilch enabled consumers to enjoy the convenience of shopping without limits, both online and offline, by deferring their payments without paying any interest fees.
Key Features:
- Ad-Subsidised Payment Network (ASPN): Zilch’s ASPN connects merchants with consumers using data-driven customized discounts. Transactions generate ad revenue, partly returned to customers as rewards, benefiting both merchants and users.
- Pay Now: Offers a virtual debit card option with up to 5% cashback on purchases, both online and in-store.
- Flexible Payment Plans: Customers can toggle between “Pay Over 6 Weeks” or “Pay Over 3 Months,” allowing interest-free repayments, enhancing credit profiles if paid on time.
- Zilch Up: Launched in October 2023 to promote financial inclusivity, it helps users build credit without interest, offering flexible payments and aiding over 25,000 credit-invisible individuals in the UK.
Regulation
Zilch Technology Limited is approved by the Financial Conduct Authority (FCA) to offer consumer credit services (FRN 843421). The company is registered in England and Wales with Company Number 11488502. Its address is 111 Buckingham Palace Road, London, SW1W 0SR, United Kingdom.
The Zilch Card is provided by Monavate, which is also authorized by the FCA to issue electronic money and provide payment services (Company Number 12472532, Firm Reference Number 901097).
Customer Reviews
Trustpilot: 4,6 Stars with 55.000+ Reviews
People
Philip Belamant
Serge Belamant
Sean O’Connor
Charges
Conclusion and Rating
Zilch meets all necessary criteria, offering a versatile “Buy Now, Pay Later” service with flexible payment options and a unique Ad-Subsidised Payment Network. Their commitment to transparency, responsible lending, and financial inclusivity is demonstrated through features like flexible payment plans and credit-building tools.
Therefore, we rate Zilch GREEN.
