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Smart companies have always put the needs of consumers at the forefront of their every move, operation and decision. When this winning strategy is combined with an innovative approach to business — particularly within the fintech sector — a revolution naturally follows. Zilch, a startup based in London and led by its founder, Philip Belamant, is exactly this type of game-changer.
Leveling Up the Buy Now Pay Later Market
The buy now pay later (BNPL) market has exploded in recent years. This is especially true since the COVID-19 pandemic sent shock waves through the finances of consumers starting in March 2020. Zilch takes the benefits of the BNPL concept and merges it with a convenient, easy to use payment app.
By partnering with one of the big names in the credit card industry, Mastercard, Zilch provides the means for consumers to afford purchases, large and small, by breaking them down into easy to manage payment installments. With plenty of safeguards in place, as well as access to some of the world’s most sought-after retailers — Amazon, Apple Music and iTunes, Sports Direct and Carphone Warehouse, to name just a few — Zilch provides a reputable and safe way for consumers to get those items they want and need without straining their budgets.
Zilch: Built Differently From the Ground Up
For its very roots, Zilch was built to be different.Built with regulation in their DNA, the company is the only BNPL platform regulated by the UK’s financial regulatory body, the Financial Conduct Authority (FCA). Zilch uses innovative Open Banking Technology in order to facilitate the purchase process while soft credit checks protect the consumers’ creditworthiness.
These tools offered by Zilch promote responsible spending and lending for consumers. By gaining a real-time view and understanding of a consumer’s spending habits, Zilch never lends more than a consumer can afford to borrow. These help reduce the anxiety that often accompanies the use of credit and eliminates the possibility of the consumer falling into venture debt.
Because of Zilch’s unique partnership with credit card giant, Mastercard, consumers are able to shop with retailers across the globe without concern. Using Zilch ensures that the consumer has all of their purchases in one convenient place, making it easier to track payments and their finances instead of having them with multiple companies and credit providers.
Zilch’s Commitment to Its Customers is Unparalleled
Zilch was built as a customer-centric platform with a focus on helping them throughout the entire lending process. From the ease of signing up directly with Zilch, to providing transparency and affordability, this company personalizes and democratizes credit in a wholly innovative way.
By streamlining the entire credit process beginning with a soft credit check that doesn’t impact their customers’ credit score, Zilch helps consumers become proactive and responsible when it comes to managing their finances. This approach helps increase the financial wellness of their customers and maintain it for the long term.
Tools like offering a centralized place for tracking both purchases and repayments, terms and conditions that are clear from the start and personalized repayment schedules that meet their customers’ needs are just a few of the features that make Zilch different. With the unique processing model that Zilch has implemented, consumers are able to tap into payment solutions that are innovative while still accessing the safe credit they need. This kind of flexibility allows consumers who have the financial means to pay off a purchase — just not all of it immediately — to still purchase those items they need or want at the time that is right for them.
BNPL: Changing the Way Consumers Finance Purchases
The BNPL industry is changing the way consumers look at financing their purchases. Zilch is leading this change with its commitment to regulation and its close working relationship with the FCA. In fact, the company diligently labored alongside the regulatory agency for 12 months before launch with the result being that Zilch is one of the first — a- BNPL providers in the UK to be regulated.
Millennials and Gen Z Fueled Credit Changes
Gen Z, as well as millennials, have always valued transparency, responsibility and efficiency. Nowhere is this more evident than when it comes to their finances and the tools they use to manage them. As a cash flow management tool Zilch has these attributes woven into the company’s very fabric. Indeed, these are the values the company was built upon and that are held up and thoroughly examined as part of every decision that is made.
The Unique Vision of Philip Belamant Drives Zilch
The far-reaching vision of Philip Belamant has been part of the founder of Zilch from when he was barely out of his teens. His final year practical thesis in AI and biometric technology won him Microsoft’s Project Firefly.
His entrepreneurial spirit was evident from the start when Belamant founded his first company when he was 21 years old. He went on to both found and exit two fintech companies by the time he turned 30.
With more than 16 years of experience in the technology and payments sectors, Belamant’s fintech ventures have won awards, acquired millions of users in diverse countries such as Namibia, Spain, South Africa, the United States and Mexico, and generated hundreds of millions of dollars in transaction value. He has continued to set trends while opening up more opportunities for consumers to effectively and efficiently use their money to get what they need and want.
Zilch is an industry leader that never forgets the personal touch that’s needed for consumers to be satisfied with their experience. The company’s customer support arm is well developed and legendary within the fintech industry. With a focus on offering personalized service in a timely manner, Zilch is responsive and proactive as part of its commitment to providing consumers with the tools and flexibility they need to manage their finances.