Updated on January 22, 2024
Zilla, the Buy-Now-Pay-Later (BNPL) company, founded in 2019, is making a strategic shift by temporarily pausing its BNPL services and focusing on a new cross-border payment product called Zillawire.
Challenges in convincing customers to embrace BNPL, particularly the misconception about credit, led to this decision.
Zilla aims to figure out aspects of the service and plans to resume soon, although specific timelines are undisclosed.
Despite collaborating with around 100 merchants, BNPL adoption faced hurdles, including the need for extended payment periods.
This move aligns with a broader trend in the fintech industry, responding to regulatory shifts, with other firms modifying or pausing their offerings.
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