Consumer payments platform Zilch has obtained a payments services licence from the Financial Conduct Authority (FCA), solidifying its position within the market.
With the receipt of this licence, Zilch can now eliminate its reliance on third parties and start developing more payment methods in-house, build and deliver additional products to market more efficiently, as well as innovate faster as new technologies are launched in the market, including stablecoins.
Licensed for growth
Obtaining the FCA payments services licence comes as another key milestone for Zilch. Recently, the company raised USD 175 million in a combination of debt and equity financing, directing the capital towards multiple strategic moves, including scaled marketing to boost brand visibility, further product development and platform improvements, and exploring strategic mergers and acquisitions.
Now, after two significant product launches, namely Zilch Pay, which is set to go live in the first quarter of 2026, and Intelligent Commerce, the FCA licence will advance this product development capability through direct access to roadmap discussions, early testing of new products, and deeper commercial collaborations. This positions Zilch for future growth and expansion.
Philip Belamant, Co-Founder and CEO of Zilch, expanded on this, explaining that this represents a major step forward for the company, bringing it into the payments landscape and cementing its position in the market. At the same time, the FCA payments services licence will open more opportunities for Zilch, enabling it to move more efficiently and cost-effectively. Since the start of its operations in 2020, the company has grown both in comes of its user base and its products and propositions. With this authorisation, Zilch will be able to take advantage of innovations as they mature to assist the next phase of its expansion.
Concomitantly, Zilch also obtained Principal Membership of Visa, solidifying its collaborative relationship. The two companies plan to explore additional opportunities to work together on payments, utilising several technologies, including agentic commerce. Mark Berry, Head of UK Clients at Visa, stated Visa’s intention to continue supporting Zilch’s growth to bring new solutions to the UK market. By teaming up, the two can offer more optimal ways to pay and be paid for individuals and businesses across the region.
