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Meet Zilch: London-based Klarna and Clearpay arch rival becomes first ‘buy now pay later’ fintech to secure FCA licence

zilch

With COVID-19 accelerating the overall industry trend towards all things digital, businesses are looking for trusted ways to help drive average order values and conversion, without taking on additional costs. At the same time, consumers are looking for more flexible and responsible methods to pay online. With this transformation, Buy now, pay later (BNPL) options like Klarna, Clearpay are sweeping over the globe. Klarna, one of the world’s biggest fintech’s and most widely available BNPL provider, is now valued at $11bn, the highest-valued private fintech in the continent.

Another one to join the bandwagon of success in this category is the UK-based fintech Zilch. Based out of London, the fintech startup has different aims and wants to redefine the BNPL market – by being completely on the side of the consumer, especially when COVID-19 continues to impact all. 

FCA-licensed

Recently, Zilch has become the first company in the market to become fully Financial Conduct Authority (FCA) licensed and looks like the process went smooth, unlike Lanistar. ...

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