London-based Klarna rival Zilch announces “Tap & Pay-over-time” feature in the UK

Zilch, London-based startup BNPL (Pay Now After Purchase) Market RedefinitionIntroduced a feature that allows customers to pay later with a tap.

Tap & payover time

This feature, called Tap & Pay-over-time, allows customers to pay with a tap in the UK and Europe over time, anywhere in the store.

UK fintech companies announced this feature when their quarterly growth exceeded 166% and growth was accelerating.

In addition, the company received over 125,000 new registrations each month.

Partnership with Monabata

As High Street in the UK begins to reopen, Zilch customers will soon be able to add Zilch cards to their digital wallets of their choice and later easily tap and pay in-store to spread costs over a six-week period.

The company is affiliated with FinTech Solution Partners Monabate To simplify and improve customer payment methods.

Scott Lucas, CCO of Monavate, said: Tap & Pay-over-time does just that, so it’s an exciting product to help you launch. Tap & Pay-over-time expands consumer choice in payment environments that are known to be increasingly demanding. Zilch’s ability to innovate to meet changing customer demands is reflected in its significant growth and ambitious goals. We are proud to help you achieve this. “

Regulation by FCA

In particular, Zilch is fully regulated by the Financial Conduct Authority (FCA) and has been working with regulators for over 12 months to ensure consumer credit approval in 2020.

Founded by Philip Belamant and Serge Belamant, Zilch’s unique over-the-top platform means that customers can tap anytime, anywhere to pay later, regardless of merchant.

The platform allows users to track all purchases in one place, whether online or in-store, giving them a transparent view of their financial and repayment timelines.

To date, the company has raised £ 31.4m.

Soft credit check

Zilch also guarantees responsible lending by combining Open Banking technology with soft credit checks to build a personalized and affordable profile for each customer.

This allows you to see and understand your affordability in real time, never lend to your customers more than you can repay, and eliminate the possibility of debt and credit-related insecurity.

Philip Belamant, founder and CEO of Zilch, said: Lately, I can’t stand having to enter a PIN when paying with a card, and I’ve always liked smartphones because there are no restrictions on tapping. Customers feel the same, so I’m very excited to bring this. A feature that quickly leads them to the market. This new feature is in line with our mission to be the best payment method everywhere, as we have created a completely easy and seamless journey for our in-store customers, independent of the hassle of QR codes and barcodes. Gen Z and Millennials make up the majority of our customer base and are key to driving change in a positive way when it comes to convenience and transparency. The inspiration to continue to innovate and improve our products comes primarily from them, and more will come-look at this space. “

London-based Klarna rival Zilch announces “Tap & Pay-over-time” feature in the UK

Source link London-based Klarna rival Zilch announces “Tap & Pay-over-time” feature in the UK

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