Zilch is a Buy Now, Pay Later (BNPL) service that works by providing users with a virtual Mastercard to make purchases which they can pay for immediately or spread over time without interest. Users can choose to pay the full purchase amount upfront and earn cashback or rewards, or opt to pay a portion (25%) at checkout and split the remaining cost into three equal fortnightly installments over six weeks or three months. If payments are made on time, no interest or fees are charged. Zilch runs a soft credit check that does not impact the user's credit score to determine eligibility and credit limits. The service also offers features like a "Snooze" option to delay payments for a small fee, and rewards for purchases and referrals. The virtual Mastercard works anywhere Mastercard is accepted, both online and in-store, offering flexibility and convenience akin to a debit card linked to the user's payment method.

In summary, Zilch enables financial flexibility by splitting payments interest-free, with the added benefit of rewards and zero hidden fees, making it a consumer-friendly option for managing purchases over time without traditional credit card debt burdens.