Zilch Joins the Financial Technology Association Ahead of its Imminent U.S. Launch

WASHINGTON–(BUSINESS WIRE)–The Financial Technology Association (FTA) welcomed fintech double unicorn and London-based Buy Now Pay Later provider Zilch as its newest member. The addition of Zilch brings FTAʼs total membership to 20 technology-based financial services companies, from modern payments providers and lending platforms to personal finance apps, AI/ML innovators, and more.

“Weʼre thrilled to mark the growth of FTA with the addition of another industry leader transforming financial services for the better,” said Penny Lee, Chief Executive Officer of FTA. “Zilch offers alternative credit options providing consumers flexibility without charging interest or fees.”

“Zilch was one of the first BNPL providers in the UK to be regulated as financial health is built into the core of our business model. With this in mind, we are excited to be working with the Financial Technology Association as a voice for us and the industry at large in Washington,” said Philip Belamant, CEO and Co-Founder of Zilch. “This is such a crucial time, with economic volatility creating a cost of living crisis, consumers need access to innovative options to pay and awareness of better alternatives for more responsible spending and lending. Weʼre excited to partner with like-minded fintech companies to advocate for modernized financial policies that enable responsible, consumer-friendly innovation.”

Zilch is transforming credit and payment services and recently surpassed two million users in just 18 months. Unique to the BNPL space, Zilch created BNPL 2.0, partnering directly with people to offer a BNPL option at up to 40 million locations, or anywhere Mastercard is accepted. Zilch enables its customers the option to either Pay in 1 and earn instant rewards or Pay in 4 over six weeks with zero interest and zero fees.

With its own proprietary behavioral data technologies, Zilch integrates a unique blend of world-class CRA data and Open Banking data to make active consumer lending decisions each time a customer spends. This creates a real-time 360-degree view and assessment of a customerʼs affordability, accurately recommending what they can afford to spend, preventing potential debt, and driving greater responsibility.

The FTA also represents BNPL providers Aerpay, Figure, Klarna, Sezzle, and Zip. Earlier this year, the FTA submitted a comment letter to the Consumer Financial Protection Bureau noting how its BNPL members are committed to advancing industry standards and ensuring access to flexible, low-cost, and responsible payment options. A recent survey of BNPL users found that only one percent had trouble understanding the terms and conditions of the provided BNPL service.


The Financial Technology Association (FTA) champions the transformative role of financial technology for American consumers, businesses, and the economy. Representing industry leaders, FTA elevates fintechʼs power to increase competition and drive financial innovation through responsible products and services. As our membersʼ voice in Washington, FTA advocates for the modernization of regulation to support greater access to financial services.

About Zilch:

Zilch was born to create the worldʼs most empowering way to pay. Itʼs revolutionizing the consumer credit, ʻbuy now, pay laterʼ (BNPL) and payments industry with innovative products for customers to manage their cash flow responsibly. Zilch partners directly with consumers rather than merchants, allowing customers to pay using debit or credit anywhere Mastercard is accepted. Zilch offers its customers the best ways to pay – credit or debit – save money and get cash back – plan repayments with reminders and/or even deferred (snooze) installments at no cost. Zilch makes use of a unique blend of best in market CRA data, Open Banking, and its own proprietary behavioral data technologies to make active consumer lending decisions each time a customer spends to drive responsibility. This creates a real-time 360-degree view and assessment of a customerʼs affordability.

Since launching in September 2020, the company has amassed over two million customers in the UK and is adding over 250,000 new users per month. Additionally, Zilch is Europeʼs fastest-ever company to go from Series A to double unicorn status in just 14 months.

For more information, visit: www.payzilch.com