The partnership between the two entities will focus particularly on the UK and USA markets. With Checkout.com's extensive coverage, Zilch aims to maintain its reputation for fast and reliable payments for its growing customer base.
This collaboration marks a significant step in Zilch's operational and technological strategy as it adapts to support its rapid growth. In February 2024, Zilch expanded its consumer debit and credit offerings by introducing 'Pay over 3 months' in addition to 'Pay over 6 weeks', catering to its over 3.6 million registered users. According to the official press release, the average usage of Zilch cards by customers stands at 100 times a year, with over 10 million payments processed monthly.
Representatives from Zilch emphasised the decision to expand the partnership with Checkout.com due to its innovation and track record in partnering with major companies. They anticipate this move to significantly impact their technology stack and payment infrastructure positively. In turn, representatives from Checkout.com expressed delight in collaborating with Zilch, highlighting the importance of seamless payment processing for Zilch's growth journey in a dynamic market.
Zilch aims to eliminate consumer credit costs by offering an ad-subsidised payments network. Leveraging its unique vertically integrated, first-party data business model, the company wants to provide value to customers and marketers alike. By merging debit, credit, and savings functionalities, Zilch offers customers cashback rewards on debit payments, and interest-free credit repayment options, and helps build credit profiles with credit agencies. The company's proprietary Ad-Subsidised-Payments Network (ASPN) connects retailers with customers, offering personalised savings and discounts. Zilch has been regulated by the Financial Conduct Authority (FCA) since April 2020.
As for Checkout.com, it offers a cloud-based payments platform designed for enterprises and scaling businesses to transform payments into a significant revenue source. With its flexible and scalable technology, Checkout.com enables seamless processing of payments, payouts, and card program management. Headquartered in the UK, Checkout.com serves global brands and operates across six continents with offices in various locations worldwide. Customers include Sony, SHEIN, Wise, Patreon, and GE HealthCare.
For more information about Checkout.com, please check out their detailed profile in our dedicated, industry-specific Company Database.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now