Zilch is a direct-to-consumer payments network that offers a buy now, pay later service, allowing users to split purchases into four payments over six weeks with no interest or fees. The platform enhances consumer flexibility by providing instant cash back rewards and a tailored spending limit, while ensuring responsible spending through multi-factor verification and data encryption.
Funding
$517.8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many consumers lack flexible payment options for online purchases, often facing high interest rates and fees with traditional credit cards or limited installment plans. This can lead to financial strain and restricted access to desired goods and services.
Solution
Zilch provides a direct-to-consumer payments network that allows users to split purchases into four interest-free installments over six weeks. The platform offers instant cash back rewards on "Pay now" transactions and provides a tailored spending limit based on multi-factor verification and data encryption. Zilch enhances purchasing power while promoting responsible spending habits by offering a transparent and flexible payment solution.
Target Audience
Zilch targets consumers seeking flexible and transparent payment options for online purchases, particularly those who want to avoid high interest rates and fees associated with traditional credit cards.
Features
- Buy Now, Pay Later (BNPL) service with 0% APR and no fees for installment payments.
- Option to "Pay now" and receive 2% cash back in Zilch Rewards instantly.
- Virtual Mastercard for online purchases, linkable to any US-issued debit card in the user's name.
- Spending limit tailored to individual users, which can increase over time with responsible payment behavior.
- Multi-factor verification, data encryption, and payment authentication for enhanced security.
- Mobile app for managing purchases, tracking payments, and receiving payment reminders.
- Zilch Rewards program allowing users to accumulate and redeem rewards for future purchases.