Zilch Partners With Plaid to Enable Open Banking Repayments

Zilch, the consumer payments platform powering the future of commerce, today announced it has partnered with Plaid to integrate open banking into the heart of its repayment experience. Together, the companies will unlock new, streamlined ways to repay for its 5 million+ customers.

Zilch customers will now be able to use the Pay by Bank method for one-off repayments, allowing them to repay directly from their bank account with just a few taps. The news comes as open banking usage hits 15 million users, nearly one in three UK adults, marking its fastest growth yet and highlighting increasing customer uptake.

Zilch is also leveraging Plaid’s Virtual Account capabilities to further strengthen its payment operations. Improved settlement tracking and built-in refund functionality will enable Zilch to deliver an even smoother customer experience, while simplifying reconciliation and reducing overheads.

As Zilch continues to scale, open banking is key to delivering on its mission to make payments smarter, simpler and more affordable. Plaid provides secure, reliable connectivity to over 12,000 institutions globally and has deep expertise across 18 European markets, paving the way for Zilch to deliver additional, highly scalable repayment innovations in the future.

Joe Zender, Chief Product Officer at Zilch, said: “We are building a consumer payments platform that drives the future of commerce, and central to this is providing flexible ways to pay. Integrating with Plaid is an important step that allows us to continue to deliver on this, enabling flexible, low-cost repayment options at scale, all while simplifying the experience behind the scenes. This latest announcement is further evidence of how we are evolving to meet the needs of our customers and offer a product that is transparent, cost-efficient and tailored to their needs.”

Zak Lambert, Head of European Products, Plaid said: “Pay by Bank is reshaping the future of payments across Europe. By combining Plaid’s secure, real-time connectivity with Zilch’s customer-first approach, we’re showing how open finance can deliver better outcomes for both consumers and businesses.”

The partnership follows the recent announcement of Zilch Pay. Set to be released in H1 2026, the innovative one-click button will see Zilch available for brands at checkout, connecting its app, digital wallet and card and allowing consumers to purchase products even more seamlessly, enhancing their shopping experience.