Mastercard and UK FinTech Zilch have announced an expanded partnership which will involve launching buy now, pay later across Europe.
In Brief:
Zilch offers a buy now, pay later digital card enabling installment payments.
It currently has 1.7mn customers in the UK for its over-the-top BNPL solution.
With Mastercard, it will expand this offering across the European Union.
What does this mean?
Unlike many other buy now, pay later models which partner with merchants, Zilch offers a direct to consumer services so customers can now shop anywhere in the UK and EU that accepts Mastercard and choose to pay with Zilch across a number of installments.
Zilch says this has enabled the company to build relationships directly with consumers and grow its customer base quickly as it doesn’t have to wait for merchant integration. Zilch also has a consumer credit licence from the FCA.
