Zilch, a London-based ad-enabled Fintech, has announced a multi-year partnership with Visa. The new card will be available as of September.
This deal aims to drive growth by paving the way “for innovative new products and enabling the launch of the company’s first-ever physical payments card, capturing an even greater wallet share of customers’ spend.”
Zilch notes that one in seven UK working adults are already Zilch customers “with a virtual payment card stored in the Zilch app or in their mobile wallets.”
To date, Zilch has processed over “£4 billion of purchases – both online and in-store.”
Upgrading to Visa’s technology is said to have enabled “a transformation in how Zilch processes card transactions and capital efficiencies.”
Mandy Lamb, Managing Director, UK & Ireland at Visa, commented:
“It’s fantastic to welcome Zilch into the Visa ecosystem, as we work together to deliver word-class products and solutions to help them scale. Fintechs are shaping the future of commerce and we’re proud to support UK unicorns such as Zilch with their growth ambitions as they provide innovative services to consumers and businesses, while driving financial inclusion through their core offering.”
Zilch CEO and Co-Founder, Philip Belamant, said that by partnering with Visa, they have plugged their AI-driven engine into a network that touches over 150 million merchants worldwide.