In fact, you can. We were curious about this trending Tap to Pay option, available only to UK residents. We heard it lets people buy now pay later, but unlike most traditional methods, you can do it with no interest or fees. Here’s how people are paying Zilch on almost anything they buy.
What Is Allowing People to Pay Zilch?
Zilch is an app that allows you to sign up for buy now pay later service. It’s technically a mastercard, but don’t let that scare you. It doesn’t work like a mastercard. That’s why responsible consumers are moving away from traditional credit cards in favour of this Tap to Pay option.
Access to Savings with 1000s of Popular Brands and Retailers
Zilch has partners with 1000s of brands and retailers you already buy to offer you a special deal. You can buy now pay later when you pay Zilch. Partners like Amazon, Apple, eBay, and Nike are all waiting for you to buy now pay later with them.
Add Zilch to your Tap to Pay on your smartphone. It works with Samsung, Apple, and Google Pay systems. Use it as a Tap to Pay in-store or online.
How You Pay
When you pay Zilch, you’ll make your first payment of 25% of the purchase price. Then pay the other 75% over 6 weeks in 3 scheduled payments. Super easy!
This means you’re only paying 100% for the item you bought. But you’re not paying any fees or interest when you buy now pay later, as long as you pay Zilch with a partner.
How to Pay with a Non-Partner
Want something, but the retailer isn’t a partner? That’s okay.
You will pay a small fee of up to £2.50 to buy now pay later with a non-partner through Anywhere.
That’s equivalent to 11.5% APR. But keep in mind, you pay it in 6 weeks, so it’s very different from using a credit card with the same APR. It costs a lot less unless you pay your credit card off every single month.
In case you’re wondering why the fee, when you use a partner, they pay this fee for you so they can earn your business. If you use a non-partner, you pay the small fee. It’s a small price considering the convenience of paying later.
Don’t Forget the Rewards
Not only do you pay Zilch, you also get cashback to reward you for paying Zilch. For every £1 you spend, get 100 reward points to spend of more partner purchases. You can also get 2% cashback if you pay Zilch then pay off the balance in one payment.
With rewards like these, this will quickly become your preferred payment type.