Zilch launches DTC buy now, pay later offering across Europe

UK challenger Zilch is rolling out its buy now, pay later offering across Europe, as it looks to take on Klarna and other rivals in the increasingly hotly contested sector.

London-based Zilch’s buy now, pay later digital payment card is currently available in the UK but will now be expanded out across Europe.

Zilch believes that its BNPL proposition, courtesy of a deal with MasterCard, will make it standout against rivals like Klarna and Afterpay.

Zilch'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.

Zilch said its direct-to-consumer model allows it build direct relationship with its customers.

The fintech 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 $1bn following its latest funding round.

Philip Belamant,Zilch founder and CEO, said: “We are excited to continue our work with a partner that shares our values and is committed to addressing the needs of our customers at home and abroad as we gear up to launch Zilch in the USA and EU.” 

Jason Lane, EVP market development Europe at Mastercard said: “We are excited to further our relationship with Zilch in their ongoing efforts toscale globally, expanding their offering across Europe and offering consumers even more choice on how and when they want to pay.”