Zilch has announced an expanded partnership with Mastercard (NYSE: MA) to bring a buy now, pay later (BNPL) service to Europe.
Zilch’s digital card is currently available in the UK and reports over 1.7 million customers in less than 15 months.
Zilch initially announced a relationship with Mastercard in August of 2019 with a “retailer agnostic” BNPL service for its users. Zilch allows its customers to shop wherever Mastercard is accepted and spread their payment over six weeks for zero interest and zero fees.
Philip Belamant, Zilch founder and CEO, said his company is focused on providing the best in class experience:
“With our partner Mastercard we remove acceptance as a barrier and enable our customers to pay overtime anywhere, instantly. We empower our customers to safely and securely buy what they want, when they want it, without being limited by temporary cash shortages. We are excited to continue our work with an innovative partner that shares our values and is committed to addressing the evolving needs of our customers at home and abroad as we gear up to launch Zilch in the USA and EU.”
Jason Lane, EVP Market Development Europe at Mastercard said they are excited to grow their relationship with Zilch and to scale globally, expanding their BNPL offering across Europe and even more customers.
Zilch leverages open banking tech to garner perspective on a consumers ability to pay. Zilch claims to be one of the UK’s first BNPL Fintechs to be granted a consumer credit license by the Financial Conduct Authority (FCA).
Zilch’s most recent funding round gave the Fintech a $2 billion valuation. The company is based in the UK with offices in Miami and Krakow.