CEO Financial firm

Philip Belamant Disrupts The Status Quo With Zilch

Philip Belamant’s Achievements in Online Businesses

Philip Belamant is a South African businessman and the CEO and co-founder of Zilch. Zilch is an app that allows consumers to pay for goods and services through installments. He created the app specifically for the African market, which seemed to be left behind when technology had caught up with the Western market. Belamant’s idea has enabled people to pay for electricity, airtime, and physical goods through mobile phones and virtual card technologies using the Buy Now Pay Later (BNPL) method.

Philip Belamant created Zilch with the consumer’s needs in mind. He uses consumer focus guides to make strategic business decisions. Belamant adopted customer protection policies from regulatory agencies that ensured the final result mainly benefited the customers. To ensure the regulators were also safe, he implemented the KYC (Know Your Customer) standards that protect institutions from fraud, corruption, and money laundering by use of ID card verification, face verification, document verification, and biometric verification. However, since most of the targeted consumers lived in rural areas and had no smartphones yet, he decided to use voice biometrics for identity authentication.

The BNPL method enables customers to buy products and services without paying interest as long as they complete the payment upon the agreed time. The sellers have an agreement with Zilch that pays them on the customer’s behalf, and the customer later pays Zilch in installments. Zilch started with merchants in South Africa and launched in the U.K. It then expanded to the United States, which made Philip Belamant one of the few African business owners who have created a disruptive business model that is fully international.

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