2021 Great British Entrepreneur Awards winner Philip Belamant, has launched a game-changing BNPL 2.0 solution in the United States with his business Zilch.
The Buy now, pay later (BNPL) platform, which has already had huge success in the UK, has launched a “2.0” business model in the United States that won’t charge late fees or penalties, and offers cash-back rewards to consumers.
London-based BNPL firm Zilch made its United States debut. CEO and Co-Founder Philip Belamant and his team selected the Miami, Florida market as its United States headquarters.
Before Zilch’s Miami office opened its doors, 150,000 pre-registered U.S. customers were already waiting poised to use the BNPL app’s services. Zilch’s partnership with Mastercard ensures that consumers can use the BNPL app everywhere this major credit card is accepted. For perspective, this means Zilch is compatible with more than 37 million retailers across the globe.
Philip Belamant says that based on Zilch’s initial market data, its United States target market includes more than one-third of the country’s population. “Our early data shows a target audience of around 125 million people, and we really think we have such a huge opportunity currently, just at our first two months of operation.
“Really, that’s been on the down-low and quiet to date. We’re already seeing more than four or five times the traction we saw initially in the UK, which is pretty unreal,” he explains.
Zilch’s United States debut is the latest capstone in the firm’s impressive growth. Since its September 2020 UK market launch, the company has developed a customer base of over two million users. In fact, Zilch has consistently added over 250,000 new customers every month.
This expansion is set to be huge for Zilch, and will be a contributing factor to more and more growth – and we couldn’t be more excited to see what else is in store for Zilch. We are so proud to have been a part of Zilch’s journey!