Zilch exceeds four million customers

“In less than four years, we have transformed the way millions of people experience, engage and, most importantly, get rewarded with their daily payments. “As a result, we have saved our customers over $500 million and counting,” said Philip Belamant, CEO and co-founder of Nothing.

Zilch is currently adding over 100,000 new customers every month and around 12% of the UK’s 33 million adult workforce now has a Zilch account. Since its launch, the platform has generated over $3 billion in merchandise or gross merchandise value (GMV) for retailers, with more than half of this GMV generated in the last 12 months alone, reflecting an accelerating pace of its rapidly growing business operations .

Zilch customers are now 10-15 times more likely to interact with the platform than peer users. This high level of customer traffic not only drives Zilch’s continued growth, but also attracts a growing number of retailers to the platform who are eager to engage with Zilch’s highly engaged and growing user base through data-driven ad targeting. Through Zilch’s ASPN services, any of the approximately 37 million retailers on Mastercard can offer attractive contextual offers and discounts on everyday purchases that customers make online or in-store using tap-and-pay. This virtuous circle of value attracts more consumers to use Zilch’s diverse features, all of which are subsidized by retailers’ advertising spend.

Years of high recurring transaction activity with Zilch’s now 4 million customer base has given the company a uniquely comprehensive data set to train and optimize its AI engine. Following the recent enhancement of its partnership with Amazon Web Services (AWS), Zilch continues to push the boundaries of artificial intelligence innovation across all of its business operations. By leveraging AWS’s powerful machine learning (SageMaker) and GenAI (Bedrock) services, Zilch has tapped into its vast pool of customer behavioral data. In April, AWS invited Zilch’s CEO to deliver the keynote address at the annual AWS Summit, where he announced that over the past year, these technologies have enabled the company to further develop and deploy sophisticated AI tools that improve credit management. Underwriting and driving fraud prevention and customer service.

Belamant added: “Our advanced use of GenAI and machine learning, supported by the robust cloud capabilities of AWS that we have been building with for years, enables us to continually innovate our flywheel of value creation at the sustainable operating pace and scale, that’s needed to drive the revolution.” Payments – like live, personalized affordability limits and predicting buyer intent.”

Zilch’s momentum in 2024 is underlined by several strategic initiatives, including the launch of a new interest-free regulated lending option “Pay over 3 Months”, co-foundation of the Unicorn Council for UK FinTech (UCFT) and partnership with Checkout. com as a global acquiring partner. These developments, combined with the ongoing AWS collaboration, are expected to further accelerate the deployment of next-generation AI capabilities and ensure that Zilch remains at the forefront of technological advancements in the fintech space and at the cutting edge of financial services for consumer remains.