Zilch hits Snooze on payments with new BNPL feature
London-based fintech startup Zilch has expanded its offering in the buy now pay later (BNPL) market with its new feature Snooze.
Snooze allows consumers to delay repayment of an instalment or entire payment plan by between four and seven days, with no interest or fee.
Customers are assessed using a combination of open banking and soft credit checks in order to offer the BNPL feature in real time. If Zilch is alerted to a negative change in a user’s earnings, the platform will actively suggest the feature in a bid to maximise their cash flow.
Zilch founder and CEO Philip Belemant says the feature will help customers who have been hit hardest by this year’s COVID-19 pandemic “through no fault of their own”, whether they’ve seen a drop in their income, or even lost their job entirely.
“It’s more important now than ever to provide our customers with a proactive way to inform us that they need more time to complete a payment or need to tweak the repayments schedule,” he adds. “Snooze is a quick, simple and free way to do this without having to spend time on the phone/chat/email to a support team.”
Zilch is the latest player to enter the BNPL arena, a growing segment of fintech that has taken off in 2020. Klarna, one of the world’s biggest fintech’s and most widely available BNPL provider, is now embedded within many of the world’s leading online shopping destinations. Last month it partnered with creative marketplace Etsy.
Snooze differs in its merchant agnostic approach. Instead of partnerships, Zilch offers its Snooze function for transactions with all MasterCard merchants, including Amazon, Ebay, iTunes, Nike and fashion retailer ASOS.
In September Zilch raised $10m in a funding round to accelerate growth and expand its product offering.
The Ultimate FinTech & InsurTech LIVE Event
From October 12th-14th, 2021, BizClik’s FinTech & InsurTech live event will bring together influential executives from around the world. Live from London, this three-day event will be an excellent way to finish the year strong, gaining the confidence your company needs to move forward into the future.
With keynote addresses from global leaders, dynamic roundtable discussions, and extensive networking opportunities, FinTech & InsurTech live will expand your network, deliver insight, and enhance your organisation’s reach. Events include a forum on financial services, discussions centred on racial equality and women in fintech, and APAC, EMEA, and US-focused sessions that capture insights from around the world.
The event will include:
- Keynote addresses from respected industry leaders
- Dynamic live roundtables (inc. Q&A)
- Fireside discussions
- Inspirational Speakers & Presentations
- Extensive networking opportunities
Scope Out the Agenda
This week, we’ll share our weekend schedule of events, filled with essential industry topics and keynotes replete with knowledge and insight. Here’s a rundown of the three-day schedule:
Kicking off at 10 AM with a welcome message from our CEO Glen White, the first day of FinTech and InsurTech Live won’t pull any punches. We discuss racial equality, inventive financial services, and cloud migration—and that’s just the morning lineup.
Later on, we’ll cover supplier diversity, AI digital transformation, and fintech sustainability, in addition to cloud and digital transformation in global insurance. Don’t worry—we have a networking lunch in-between events! Finally, we’ll close out the day with online banking, women in fintech, and a recap of Day 1.
First we’ll hear from Scott Birch, our expert BizClik Media Editorial Director and facilitator, live from the Fintech Leaders Stage. We then jump into the future of digital payments, unicorns, and digital insurance brokers. Interested in learning more about digital underwriting and digital payment solutions? You’ve come to the right place.
In the afternoon, we’ll touch on CX in insurance, host a forum on financial services, and discuss what the world might look like as a cashless society, plus the future of challenger and neo banks. Wrapping up, we’ll talk tech and AI in insurance, PayTech, and hear from a surprise inspirational speaker. But we’re not done yet.
As is only fitting, BizClik’s CEO, Glen White, will introduce our APAC sessions, highlighting the critical role that Asia will play in the future of fintech and insurance. Following his remarks, we’ll open up the floor for a chat about digital banking, discuss technology in APAC, and hear from Dipu KV in an iconic keynote address.
After a series of thought leaders and networking sessions, we’ll head into an EMEA-focused session, which includes an EMEA technology panel, a CDO keynote, and a Europe enterprise presentation. In fact, this day’s events span the globe. Next up is a USA regional keynote, followed by a US CIO presentation and talks about enterprise.
A final end-of-event farewell will close out the weekend, wrapping up a successful FinTech and InsurTech global event. Can’t miss it. We look forward to seeing you there!