Zilch, a pioneer in the ad-subsidised payments sector, announced its partnership with Checkout.com, a leading digital payments provider, to elevate its global acquiring capabilities. This strategic alliance is anticipated to significantly bolster Zilch's financial infrastructure, especially as it aims to capture a larger share of consumer spending.
The collaboration comes at a crucial time, with Zilch managing over 10 million customer payments each month. The company has seen remarkable growth, with its customer base expanding to over 3.6 million registered users. Philip Belamant, CEO and Co-Founder of Zilch, expressed confidence in this partnership: "Checkout.com’s innovation and robust track record in partnering with some of the world’s biggest companies made the decision to expand our partnership an easy one."
Belamant further highlighted the significance of this partnership not only for Zilch but also for the broader fintech landscape in the UK. "In addition, Zilch is excited to partner with another leading UK fintech in Checkout.com. It’s testament to the strength of the UK’s amazing fintech ecosystem and is another reason why I am proud to be a founding Co-Chair of the recently launched Unicorn Council for UK Fintech," he added.
With Checkout.com’s extensive operations covering more than 145 currencies and more than 45 markets, Zilch is hopeful that the collaboration will lead to enhanced payment performance. "It’s an exciting moment to join forces in such a dynamic market where our technology is powering many of the world’s leading companies," said Guillaume Pousaz, Founder and CEO of Checkout.com.
This partnership marks an important milestone in Zilch's evolving technology strategy. The company recently expanded its payment options by launching 'Pay over 3 months' alongside its existing offering of 'Pay over 6 weeks'. This addition was aimed at providing more flexible credit solutions to users, thereby enhancing their overall customer experience.
Zilch has a clear vision—to revolutionize consumer credit by eliminating its costs once and for all. Their unique business model integrates high-quality services in debit, credit, and savings, setting Zilch apart from traditional fintech operators. Belamant noted, "Having worked together for over two years, I’m certain that this move will be a game changer in our tech stack and payments infrastructure."
The business model of Zilch revolves around providing customers with the ability to earn up to 5% cashback on debit payments and the option to spread interest-free repayments over six weeks or three months. This flexibility not only enhances customer satisfaction but also helps users build their credit profiles with major credit agencies.
As it stands, Zilch is on a path to shaping the future of the $50 trillion advertising and payments industries. Their proprietary Ad-Subsidised-Payments Network (ASPN) aims to connect retailers with millions of high-intent customers, offering a closed loop network for personalized savings, deals, and discounts.
The fintech landscape is dynamic, and with this partnership, Zilch positions itself to capitalize on emerging opportunities within the industry while enhancing its services to customers. As the company progresses, it remains committed to creating value through innovation in financial solutions.
Outlook for Zilch appears promising as it continues to forge ahead with Checkout.com, reinforcing its infrastructure while expanding its offerings to meet the demands of a growing, diverse customer base. By fostering partnerships within the fintech ecosystem, Zilch is well-poised for future growth.