Zilch Introduces a New Spin on 'Now and Later' Purchases

Consumer spending is frequently peppered with FOMO (Fear Of Missing Out) and seasonal trends in shopping, an budgets don’t always line up- Zilch has introduced the option for account holders to Payl8r, letting shoppers make small impulsive purchases at affiliated stores without ruining the monthly budget, such as ‘buy now pay later food’ for eating out in restaurants or vacations. This new option is also made from the observation of BNPL (Buy Now Pay Later) programs being on the rise, consumers using said programs for day to day purchases or more leisurely buys. The Payl8r option from Zilch is another version of a BNPL program, sharing some similarities to short-term loans, letting the customer pay for the purchase in installments rather than have the amount charged on their actual account all at once.

The Payl8r option made by Zilch draws most of the approach from the blatant ‘8’ in the name- account holders are given eight weeks to pay the balance in question, paying a quarter of the balance in bi-weekly intervals (25% as a down payment, then another 25% in the two weeks following). If the user needs extra time, a ‘snooze’ option delays a payment for four days for eligible users. This is an attempt to compete with normal credit card accounts, considering Zilch highlights having no interest fees. Regardless of the results, Zilch’s Payl8r program is another option for account holders trying to stay on a budget without the potential risk over-spending when disposable income is low.

Learn more about Zilch: https://www.zilch.com