Zilch came up with the first BNPL card to make purchases from leading retailers with no extra fees. The signups for (BNPL) buy-now-pay later for Zilch has continued to increase even toady. The financing initiative has sealed a new round of funding to scale up the unique payment system.
In 2020, the firm launched its first BNPL card that was fee-free. The BNPL card allows the consumers to shop with their MasterCard online without any fee charged. The virtual card had no interest rate. Consumers could use it to shop at online retailers above 10,000, including Carphone Warehouse, eBay, Adidas, Amazon, ASOS, Nike, Hype, and other online stores. Consumers can pay upfront 25% of the product prices using the virtual card and pay the rest in six weeks. Very soon, consumers will be able to shop using Zilch in in-stores.
Zilch announced that 10 million dollars of funding were to be used to develop the whole BNPL scheme. The entire strategy allows Zilch to link with clients instead of retailers. Zilch will use the income from the funding to extend its customer reach. According to Zilch CEO Philip Belamant, the firm built the distinct exclusive approach to BPL out of their extensive knowledge of installing cards to developing economies such as South America, South Africa, and others.
Zilch incorporates the benefit of card products and installments to provide the best ways for their customers to pay anywhere overtime. Zilch has also partnered with MasterCard to deliver its unique payment solution effectively.
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