British buy-now-pay-later firm Zilch has unveiled its biggest product overhaul since launching, introducing two new membership tiers and expanded payment options that directly challenge traditional credit providers. The intelligent payments platform announced Tuesday it is rolling out Zilch Extra and Zilch Plus memberships, alongside Zilch Advance, an open banking-powered salary advance feature for eligible members, and a Pay Monthly option allowing customers to spread purchases across up to twelve months.
The expansion signals Zilch’s aggressive push beyond basic BNPL services into broader consumer credit territory, putting pressure on traditional lenders and competing fintech platforms. The salary advance feature leverages open banking technology, allowing real-time income verification and creating a potential competitive advantage over legacy providers. Payment flexibility extending to twelve months represents a significant jump from standard BNPL four-payment models, targeting higher-value transactions.
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Traders should monitor traditional consumer lenders and competing BNPL stocks for potential volatility as Zilch’s expanded credit offerings intensify competition in the European consumer finance space.
Source: Finextra