Zilch, a consumer payments platform, has partnered with Open Banking firm Plaid to integrate its services. Together, the firms will now aim unlock ways to repay for its customers. Zilch clients will now be able to use the Pay by Bank method for one-off repayments, enabling them to securely repay directly from their banking account.
The update comes as open banking usage hits 15 million users, nearly one in three UK adults, marking its “fastest” growth yet and indicating significantly increasing consumer uptake.
Zilch is leveraging Plaid’s Virtual Account capabilities to strengthen its payment operations. Zilck aims to improve settlement tracking and refund functionality that will enable it to deliver an improved customer experience, while “simplifying reconciliation and reducing overheads.”
Plaid currently provides connectivity to institutions globally and has exposure in 18 European markets.
Joe Zender, Chief Product Officer at Zilch, said that they are building a consumer payments platform that drives the “future of commerce, and central to this is providing flexible ways to pay.”
Zender also mentioned that integrating with Plaid is a key step that allows them to continue to deliver on this, “enabling flexible, low-cost repayment options at scale, all while simplifying the experience behind the scenes.”
They further explained that this latest announcement is further “evidence of how they are evolving to meet the needs of customers and offer a product that is transparent, cost-efficient and tailored to their needs.”
Zak Lambert, Head of European Products, Plaid said that Pay by Bank is reshaping the future of payments across Europe.
Lambert added that by combining Plaid’s secure, real-time connectivity with Zilch’s customer-first approach, they’re now showing “how open finance can deliver better outcomes for consumers and businesses.”
This latest partnership follows the announcement of Zilch Pay, which is reportedly set to be released in H1 2026. The “one-click button” will see Zilch available for brands at checkout, bringing together its app, digital wallet and card and enabling consumers to acquire products in more frictionless manner, enhancing their overall experience.
