Zilch, an app-based buy now pay later (or “BNPL”) service for UK users, enables shoppers to pay in smaller payments with no interest or fees on many popular sites like Amazon. In an age where much of shopping has gone online and seeing the need to offer installment payment services for potential shoppers, Zilch has seized the opportunity to make shopping for some purchases more attainable. Zilch users can now get some purchases they were otherwise not going to make with Zilch’s simple and easy to use payment app and literally pay zilch in interest while breaking up the larger payment into smaller more manageable installments (first paying 25% up front, then the rest is broken up into three equal payments every 2 weeks–without interest).

To make this possible, Zilch partnered with Mastercard and retailers pay a small fee to during the transaction with Zilch users, keeping the shopper from having the usual high interest credit card experience. Typical transactions are in the lower price range (the kind that many online shoppers are making everyday) and keep risks low, and the fact that Zilch is a phone app means there is no plastic card to keep track of, wear out, lose, or have stolen. Zilch learned from markets where shoppers needed installment payments and applied their lessons to the growing online shopping market to give their shoppers the freedom to make purchases and eliminate interest, you literally pay zilch!

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