Zilch has announced it has signed an “industry-first” partnership with UK debt advice charity StepChange to help millions of customers gain access to credit help and support during the current cost-of-living crisis.
This support for StepChange will enable Zilch to become the first provider of credit via Buy Now, Pay Later (BNPL) to fully integrate StepChange Direct into its platform. The payments technology company will also provide innovation that will better advance the user experience.
Zilch and StepChange have worked together to identify a number of steps that are currently required when they are in financial stress and are referred for support that can be removed. StepChange’s team will also work with the Zilch vulnerability team on how to recognise and make referrals to debt advice more effectively.
“The entire ethos of Zilch is about being customer-first and we’ve built the business around doing the right thing by our customers – even if it’s difficult – every time. It’s why we’ve invested so much time and resource into building a meaningfully proactive relationship with StepChange,” commented Philip Belamant, CEO and Co-Founder of Zilch.
“This partnership ensures we provide our customers with the very best support if they do fall behind on repayments – all for free.”
Zilch will be making financial contributions to StepChange through the Fair Share funding mechanism, supporting the charity in its operations and ensuring that UK consumers continue to benefit from easy access to an independent charity committed to helping people in financial difficulty become debt-free.
Working with StepChange comes off the back of Zilch more recently becoming the first provider of its kind to report customer behaviour to all major UK Credit Reference Agencies (CRAs).
Phil Andrew, CEO of StepChange, added: “Over the last three decades a lot has changed – with new challenges like the cost-of-living crisis and new financial products.
“But one thing has not changed and that is our commitment to support people struggling with problem debt and to work with a wide network of partners and supporters to ensure that those who need help can access it.
“Zilch’s commitment to our work through the payment of Fair Share contributions, as well as finding innovative ways to minimise the barriers to people seeking help, will support us at StepChange to continue our important mission.”
