Best of the Week
Most Popular
1. TESLA! Cathy Wood ARK Funds Bubble BURSTS! - 12th May 21
2.Stock Market Entering Early Summer Correction Trend Forecast - 10th May 21
3.GOLD GDX, HUI Stocks - Will Paradise Turn into a Dystopia? - 11th May 21
4.Crypto Bubble Bursts! Nicehash Suspends Coinbase Withdrawals, Bitcoin, Ethereum Bear Market Begins - 16th May 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.Cathy Wood Ark Invest Funds Bubble BURSTS! ARKK, ARKG, Tesla Entering Severe Bear Market - 13th May 21
7.Stock Market - Should You Be In Cash Right Now? - 17th May 21
8.Gold to Benefit from Mounting US Debt Pile - 14th May 21
9.Coronavius Covid-19 in Italy in August 2019! - 13th May 21
10.How to Invest in HIGH RISK Tech Stocks for 2021 and Beyond - Part 2 of 2 - 18th May 21
Last 7 days
Chasing Value in Unloved by Markets Small Cap Biotech Stocks for the Long-run - 27th Jul 21
Inflation Pressures Persist Despite Biden Propaganda - 27th Jul 21
Gold Investors Wavering - 27th Jul 21
Bogdance - How Binance Scams Futures Traders With Fake Bitcoin Prices to Run Limits and Margin Calls - 27th Jul 21
SPX Going for the Major Stock Market Top? - 27th Jul 21
What Is HND and How It Will Help Your Career Growth? - 27th Jul 21
5 Mobile Apps Day Traders Should Know About - 27th Jul 21
Global Stock Market Investing: Here's the Message of Consumer "Overconfidence" - 25th Jul 21
Gold’s Behavior in Various Parallel Inflation Universes - 25th Jul 21
Indian Delta Variant INFECTED! How infectious, Deadly, Do Vaccines Work? Avoid the PCR Test? - 25th Jul 21
Bitcoin Stock to Flow Model to Infinity and Beyond Price Forecasts - 25th Jul 21
Bitcoin Black Swan - GOOGLE! - 24th Jul 21
Stock Market Stalling Signs? Taking a Look Under the Hood of US Equities - 24th Jul 21
Biden’s Dangerous Inflation Denials - 24th Jul 21
How does CFD trading work - 24th Jul 21
Junior Gold Miners: New Yearly Lows! Will We See a Further Drop? - 23rd Jul 21
Best Forex Strategy for Consistent Profits - 23rd Jul 21
Popular Forex Brokers That You Might Want to Check Out - 22nd Jul 21
Bitcoin Black Swan - Will Crypto Currencies Get Banned? - 22nd Jul 21
Bitcoin Price Enters Stage #4 Excess Phase Peak Breakdown – Where To Next? - 22nd Jul 21
Powell Gave Congress Dovish Signs. Will It Help Gold Price? - 22nd Jul 21
What’s Next For Gold Is Always About The US Dollar - 22nd Jul 21
URGENT! ALL Windows 10 Users Must Do this NOW! Windows Image Backup Before it is Too Late! - 22nd Jul 21
Bitcoin Price CRASH, How to SELL BTC at $40k! Real Analysis vs Shill Coin Pumper's and Clueless Newbs - 21st Jul 21
Emotional Stock Traders React To Recent Market Rotation – Are You Ready For What’s Next? - 21st Jul 21
Killing Driveway Weeds FAST with a Pressure Washer - 8 months Later - Did it work?- Block Paving Weeds - 21st Jul 21
Post-Covid Stimulus Payouts & The US Fed Push Global Investors Deeper Into US Value Bubble - 21st Jul 21
What is Social Trading - 21st Jul 21
Would Transparency Help Crypto? - 21st Jul 21
AI Predicts US Tech Stocks Price Valuations Three Years Ahead (ASVF) - 20th Jul 21
Gold Asks: Has Inflation Already Peaked? - 20th Jul 21
FREE PASS to Analysis and Trend forecasts of 50+ Global Markets by Elliott Wave International - 20th Jul 21
Nissan to Create 1000s of jobs with electric vehicle investment in UK - 20th Jul 21
Bitcoin Halvings Price Forecast and Stock to Flow Analysis - 18th Jul 21
Dell S3220DGF Unboxing and Stand Assembly - 32 Inch 165hz Curved Gaming Monitor Amazon Discount - 18th Jul 21
What Does The Fed Mean By “Transitory Inflation” And Why Is It Important To Understand? - 18th Jul 21
Will the US stock market’s worsening breadth matter? - 18th Jul 21
Bitcoin Halving's Price Projection Forecasts Trend Trajectory - 18th Jul 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

New BNPL Regulations Leave Zilch Leading the Way

Personal_Finance / Debt & Loans Feb 19, 2021 - 05:27 PM GMT

By: Sumeet_Manhas


Zilch’s customer-centric model protects consumers at all levels - FCA regulation requires other providers to step up their game.

Last week, the buy-now-pay-later market came to a standstill when the Financial Conduct Authority (FCA)released its latest regulations to improve protection for BNPL shoppers. These new policies follow cases of serious debt that customers have fallen into when shopping with certain BNPL providers during the coronavirus pandemic. The FCA has recognised that consumers need more education  when it comes to financing their payments, and its new rules have set a high bar that most BNPL providers must now reach.

Thankfully  for shoppers, though, there is one BNPL provider that doesn’t need to change its ways to meet the new regulations. The up-and-coming UK-based fintech Zilch has always adopted a customer-centric model, and the FCA has highlighted this provider as a safe option for customers looking to spread the cost of their shopping.

Why Zilch?

Zilch’s founder and CEO, Philip Belamant, launched many successful fintech companies in South Africa before relocating to London to redefine the UK’s BNPL market for a brighter future. And the financial entrepreneur’s efforts have paid off. Over the last year, Zilch has rolled out a $30m fund to scale its future-proofed shopping method, which enables customers to pay for their purchases over six weeks without having to empty their pockets on interest costs and other hidden fees. What’s more, customers can use the virtual Zilch card when shopping with any retailer that accepts MasterCard payments. It’s no wonder Zilch’s customer sign-ups are rapidly increasing, and it’s looking ever-more likely that they’ll become the next fintech unicorn.

Zilch gained its FCA licence after completing the financial regulator’s Regulatory Sandbox Programme, which involved 12 months of research and development into the BNPL provider’s services. The FCA analysed Zilch’s offerings, balance sheet, profit and loss forecasts, and cash flow statements – all while conducting a background check to qualify Zilch’s management team – concluding that Zilch offers impressive quality in the BNPL arena. In particular, the FCA commended Zilch for its rejection of compound interest and low initial lending limits.

Why the Call for New BNPL Regs?

The media has spotlighted the risks that come with certain BNPL schemes over recent weeks. In particular, the new Woolard Review highlighted major concerns surrounding debt stemming from BNPL schemes. It’s for this reason that the FCA has recommended 26 changes to improve debt advice services, step up collaboration between the government and the FCA, reform the regulation of community development finance institutions and credit unions, and provide more alternatives to high-cost credits.

These recommendations match up with Zilch’s customer-centricBNPL model, so much so  the fintech has voiced its support for healthier industry regulations. Zilch firmly believes that lenders should make every effort to support customers, instead of becoming a burden on them. The BNPL company has designed its model to offer the utmost consumer protection, making it one of the  most responsible companies when it comes to protecting its customers’ financial needs.

About Zilch

The BNPL market is evolving, and Zilch is heading the movement to better  buy-now-pay-later shopping. For example, Zilch is the first BNPL provider to embrace open banking data in its customer affordability assessments. The company has automated these assessments to run instantly when customers make purchases. This way, Zilch has been able to pave the future of the BNPL industry by putting a stop to hard credit checks and late fees. The fintech’s quarterly growth has now exceeded 120%, which means Zilch is onboarding more than 70,000 customers every month.

You can sign up for your free Zilch account at

By Sumeet Manhas

© 2021 Copyright Sumeet Manhas - All Rights Reserved

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in