Zilch is partnering with open banking platform Yapily to bring 0% interest, swift repayment credit to its millions of customers.
IN BREIF:
- The BNPL aims to maximise the consumer benefits of open banking to help those struggling with the cost of living crisis.
- The ‘buy now, pay later’ (BNPL) will make use of Yapily’s open banking technology to improve its credit decisioning process.
- It is aiming to advance the way in which in provides “trust, protections and benefits” expected from high street banks without the costs of traditional credit.
What does this mean?
“I believe we are probably at the early stage of seeing the greatest consumer shift in payments in a quarter century — since PayPal was founded,” Zilch co-founder and CEO Philip Belamant said. “In the context of the cost of living crisis, it’s never been more critical for people to have access to 0 per cent interest responsible credit when managing cashflow. That’s what this new partnership with Yapily embraces — helping Zilch to achieve [that] by maximising the consumer benefits of open banking technology.”
