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This Is What It Looks Like to Buy Now Pay Later and Pay Zilch

Zilch. That’s what UK residents are paying when they buy now pay later when this new app. It’s so flexible, easy to use, and rewarding that it may soon become the only way you Tap to Pay.

Here’s what the hype is all about!

What Is Zilch?

It’s a form of payment that lets you pay for anything you buy over 6 weeks instead of paying all of it now–all with no interest. Responsible consumers love the flexibility of choosing when to pay now or pay later with this option.

It’s like a credit card. In fact, it’s technically a MasterCard. But don’t let that scare you. You’ll never get a wasteful piece of plastic in the mail or pay hefty amounts of interest.

You’ll manage all of your purchasing through the Zilch app and Tap to Pay through Samsung Pay, Google Pay, Apple Pay. Just make Zilch your preferred payment.

What Retailers Take Zilch?

The short of it: any retailer that takes credit cards will let you pay Zilch. However, to get the most out of Zilch, browse the 1000s of top brands and retailers they partner with.

These aren’t no-name brands you’d never buy. They’re ones you know and already buy from, like Apple, Amazon, eBay, and Nike. Plus groceries, home goods, airfare, and more.

You already buy these things. So why not pay zilch? Buy now pay later.

How Does It Work?

Once you make Zilch your preferred payment option on your smartphone, search for what you want in the app. Buy it and only pay 25% of the cost during that initial payment. Then you’ll have a payment schedule where you pay the other 75% in 3 easy payments over a 6-week period.

This allows you to spread out payments over several paychecks.

How Can Zilch Be “Free”?

Actually, it isn’t. The retailers and brands you buy from are paying a small fee to Zilch each time you buy. They want your business. This is a small price to pay to get you to buy now. They make more money, and you get to buy more stuff without interest. Everybody wins!

With that said, there are some times you’ll pay a tiny fee. And we mean tiny. It’s up to £2.50 (e.i, 11.5% APR). But you only pay this if you buy from non-partners because they haven’t agreed to pay the fee on your behalf as partners have. That’s a small price to pay to buy now pay later.

Does Zilch Have Any Other Perks?

Yes, it does. Similar to a credit card, you also get Zilch rewards every time you buy now pay later. Earn 100 points for every £1 you spend. Then use that to lower the price of future purchases and keep on saving.

If you’re a responsible consumer, you’ll want to try Zilch.

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