As prices rise in the UK, even a trip to the grocery stores leaves you with a hole in your wallet. More consumers are looking for how to buy now pay later. But they can’t afford the high-interest credit cards to do it. Increasingly, these consumers are choosing an alternative, called Zilch.
Why are so many flocking to this new and improved preferred payment option? How does it work? Here’s what we found out.
What Is Zilch?
So first, full disclosure–It is a MasterCard, although there’s no physical plastic card to keep up with. So less plastic waste.
It doesn’t work like other MasterCard either. So hear us out!
It’s an alternative for responsible consumers who think it’s a waste to pay a lot of interest every time they want to buy something.
You need some flexibility in your life to buy now pay later, but you don’t think you should have go into credit card debt to do it. We hear you.
When you make Zilch your preferred payment to Tap to Pay on your smartphone, you can use it to pay at 1000s of Zilch partners–both online and physical shops.
It’s compatible with Google Pay, Apple Pay, and Samsung Pay. Those payment options mean most smartphone owners can use it.
Although, you do have to be a UK resident.
How Do I Get Zilch?
You’ll download the app on your smartphone. Sign up and then set it as your preferred payment. Now, when you buy, you’ll pay with Zilch, which allows you to buy now pay later.
When Do I Pay for My Purchase?
Of course, even when you buy now pay later, you have to pay some time. This payment service allows you to pay over six weeks. Just make your initial payment when you buy. That will be 25% of your purchase price. Then pay the other 75% over a 6-week period.
As you know from basic maths, 25% + 75% = 100%.
Not, 105% or 110%.
You don’t pay a penny more for the item, as long as you buy from one of Zilch’s preferred partners.
Who Are the Partners?
If you have a favourite brand or retailer, chances are they partner with Zilch. Zilch has 1000s of partnering brands and retailers you know and love like:
Can I Pay Zilch with a Non-Partner?
Yes. You buy now pay later almost anywhere. You’ll just pay up to £2.50. That’s the same as 11.5% APR. That’s a better deal than most credit cards, and since you pay it back over six weeks, it costs you very little.
Why Am I Charged When I Use a Non-Partner?
It all comes down to why Zilch is free for you to use most of the time.
The brand or retailer you buy from pays for this flexible service,, so you’ll buy now pay later with them. However, if they’re not a partner, they don’t pay for the service, so you will pay the small fee they would have paid. Stick with the many preferred partners and your payment schedule and you won’t pay any fees ever.
There’s no annual fee. Plus, you earn 100 Zilch Rewards for your purchases. You can use these rewards to buy now pay later on for even more stuff.
Zilch is the flexible, responsible way to buy now pay later.