In a noteworthy development for the fintech sector, Zilch has officially announced that it has appointed Checkout.com as its primary global acquiring partner. This alliance is particularly aimed at enhancing Zilch’s operations in both the UK and US markets.
Zilch, known for its ad-subsidised payments network, currently supports more than 145 currencies and boasts domestic acquiring coverage in over 45 markets. The decision to partner with Checkout.com is considered an "important milestone" in Zilch's ongoing operations and technology strategy as the company evolves amidst rapid growth.
Philip Belamant, chief executive officer and co-founder of Zilch, remarked, "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." He emphasized the existing relationship, stating, "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 partnership comes at a time of ongoing expansion for Zilch, which recently introduced new payment options such as 'Pay over 3 months' in addition to its existing 'Pay over 6 weeks.' Currently, Zilch serves 3.6 million registered users, processing over 10 million payments per month, with each cardholder averaging 100 transactions annually.
By collaborating with Checkout.com, Zilch aims to leverage the latter’s advanced technology and experience in payment solutions. "We are delighted to be working with Zilch, a category-leading fintech, to ensure that payments acquiring and processing is a business enabler and not a business distraction for Zilch as it successfully continues on its incredible growth journey," stated Guillaume Pousaz, founder and CEO of Checkout.com. He noted the significance of their partnership in the context of a rapidly changing market, adding, "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."
Belamant also underscored the importance of the fintech community in the UK and his commitment to fostering local partnerships. He plays a prominent role as co-chair of the newly-formed Unicorn Council for UK FinTech, which was launched by Innovate Finance in March, alongside Janine Hirt, CEO of Innovate Finance, and Charles McManus, CEO of ClearBank.
This strategic partnership not only enhances Zilch's service offerings but also illustrates the strength and vibrancy of the UK's fintech ecosystem. As both firms move forward, their collaboration may serve as a model for other fintechs looking to optimize their payment infrastructures in a digital-first world.
Looking ahead, the fintech landscape continues to evolve rapidly, and partnerships like these highlight the critical role of technology in enabling growth and innovation. The collaboration between Zilch and Checkout.com is poised to impact not just their operations but the broader industry as well.