CUSTOMER ANNOUNCEMENT: Zilch

Zilch unlocks new era of customer-first payments with Pay by Bank

Zilch, the consumer payments platform powering the future of commerce, is building a new type of payments experience, combining flexible ways to pay with meaningful rewards, putting consumers in control of their finances while bringing them closer to the brands they love. Now, Zilch is teaming up with Plaid to bring open banking into the heart of its repayment experience, helping more than five million customers manage their repayments with greater ease and lower costs.

“At Zilch, we are building a consumer payments platform that drives the future of commerce, and central to this is providing flexible ways to pay. Partnering with Plaid is an important step that allows us to continue to deliver on this, enabling flexible, low-cost repayment options at scale, all while simplifying the experience behind the scenes” Joe Zender, Chief Product Officer, Zilch.

Smart, scalable payment innovation

With the help of Plaid’s open banking network, Zilch will now provide Pay by Bank for one-off repayments. By shifting away from high-cost card rails and embracing instant bank payments, Zilch will reduce processing fees while expanding flexibility and control for its users.

Driving efficiency with Virtual Accounts

Zilch is also leveraging Plaid’s Virtual Account capabilities to improve payment operations behind the scenes. Virtual accounts provide settlement tracking and built-in refund functionality so Zilch can deliver an even smoother customer experience while simplifying reconciliation and reducing overheads.

A shared vision for better consumer outcomes

Today’s consumers are driving the next wave of fintech forward. They expect seamless user experiences that they are in control of—without friction or hidden costs. Pay by Bank gives consumers a faster, more secure way to make repayments directly from their accounts, while giving businesses a more efficient, lower-cost way to operate.

As Zilch continues to scale, open banking plays a critical role in making payments smarter, simpler, and more affordable. Plaid’s secure, reliable connectivity to over 12,000 institutions globally and deep expertise across 20 markets will help Zilch offer payment tools and experiences that meet customers’ expectations for how they want to pay.

“Pay by Bank is reshaping the future of payments across Europe. By combining Plaid’s secure, real-time connectivity with Zilch’s customer-first approach, we’re showing how open finance can deliver better outcomes for both consumers and businesses.” Zak Lambert, Head of Product in Europe