Payments Fintech Zilch has distributed information on Black Friday shopping activity.
Zilch, based in the UK, is “direct-to-consumer, ad-subsidised payments network (ASPN).” Black Friday is one of the largest consumer purchasing dates of the year.
Zilch reports that Black Friday saw its sales more than double compared to the previous year. The company experienced a 116% year-on-year growth in sales, with 93% year-on-year growth following Cyber Monday. The company did not provide the total amount transacted on its platform.
The company says that Travel spending was a stand out sector.
Zilch also provides BNPL options.
Rebecca Mangaroo, EPN Partnerships Lead, United Kingdom, eBay, said:
“eBay has been working with Zilch for over three years and we are over the moon with the volume and quality of sales generated. As a key affiliate, Zilch is dedicated to providing customers a unique and invaluable service to help spread out their purchases without accruing any interest or late fees – helping everyone to shop worry free. Most impressive is the performance during this peak period compared to last year: we saw an incredible year-on-year increase in GMV of 118%. Truly impressive.”
Since April 2020, Zilch has been regulated by the UK Financial Conduct Authority (FCA), obtaining a consumer credit license through the Fintech Sandbox Programme.