Zilch lands consumer lending authorisation

Monday 23 November 2020 14:37 CET | News

Zilch, a UK-based startup redefining the Buy Now, Pay Later (BNPL) market, has become one of the UK’s first BNPL fintech to secure a consumer credit authorisation with the Financial Conduct Authority (FCA). 

Zilch is a player in the industry that makes use of Open Banking data (in partnership with CreditKudos) as well as soft credit checks to ensure each customer's creditworthiness and affordability is assessed accurately every time they shop, preventing burdensome debt. 

The fintech entered the FCA’s innovative Regulatory Sandbox Programme to work hand in hand with the regulator on its consumer-focused approach to buy now pay later.

Zilch is merchant agnostic and has partnered with Mastercard to provide a service directly to its customers wherever they choose to shop. Customers can use Zilch to get discounts and deals as well as pay over time wherever they like.

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Keywords: Zilch, lending, authorisation, fintech, FCA, data, Open Banking
Categories: Banking & Fintech
Countries: United Kingdom
This article is part of category

Banking & Fintech