Providing more flexibility to customers and drive up Zilch’s wallet share.
In brief:
- The product is already available to around 100,000 Zilch customers in a trial. Eligible customers from over 3.6 million registered users will be offered the new product from April 2024 onwards.
- The launch will provide Zilch’s customers with greater choice when paying, enabling them to choose between Pay over 3 Months, Pay over 6 Weeks or, for day-to-day purchases, the ‘Pay Now’ debit product where they earn up to 5%.
- Customers will benefit from the same consumer safeguards given that Zilch will offer this as a regulated product under its FCA consumer credit licence.
What does this mean?
Philip Belamant, CEO, and co-founder of Zilch said, “Today’s product launch moves Zilch closer to our end game of capturing total share of wallet. This new payment option is tailored for significant purchases or emergency moments, such as buying electronics, car tyres or home repairs like when the boiler breaks. As Zilch is FCA-regulated, customers can spend with the confidence that every payment over £100 is covered under section 75 of the Consumer Credit Act. It is simply the best way for any adult to pay – especially in today’s economic climate.”
