‘Tap & pay-over-time’ service to be launched in the UK for first time

Payment

UK shoppers will soon be able to “tap & pay-over-time” as fintech startup Zilch launches the country’s first instant ‘buy now, pay later’ (BNPL) service.

Zilch, a London-based BNPL company, is planning to launch its new tap and pay-over-time feature to coincide with the reopening of non-essential retail next week.

Customers will be able to add the Zilch card to their digital wallet, then make BNPL purchases with a single tap of their smartphone.

Like its BNPL rivals Zilch allows shoppers to split the cost of a purchase over six weeks in four interest-free payments.

READ MORE: Ebay to begin offering “buy now pay later” scheme

However, unlike many of its rivals, Zilch is fully regulated by the Financial Conduct Authority (FCA) having worked with the regulatory body for over a year.

“This new feature falls in line with our mission to become the best way to pay, anywhere – as we’ve created a completely easy and seamless journey for our customers in-store that doesn’t rely on annoying QR codes or Barcodes,” Zilch’s founder and chief executive Philip Belamant said.

According to Zilch it has gained over 125,000 new sign ups a month over its last quarter, seeing growth of 166 per cent.

Click here to sign up to Charged’s free daily email newsletter

Payment

RELATED POSTS

1 Comment. Leave new

  • Am I missing something here – first in the UK? Klarna? PayPal? Any Credit Card? All regulated and approved in the UK……

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.

Menu

SUBSCRIBE TO OUR NEWSLETTER

Sign up to our daily newsletter to get all the latest retail tech news and insights direct to your inbox.

  • This field is for validation purposes and should be left unchanged.