Zilch’s BNPL digital payment card is currently available in the UK but will now be expanded out across Europe. The company believes that its proposition, courtesy of a deal with MasterCard, will make it standout against rivals like Klarna and Afterpay.
The fintech’s direct-to-consumer approach lets users pay at any merchants that accepts MasterCard, unlike rivals which include their checkout option on selected retailers’ websites. The company makes money by taking a cut in the transition from the retailer.
Recently, the founders of Zilch saw their stake in the two year old firm reach a combined USD 1 billion following its latest funding round.
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