The service allows the user to connect their debit and credit cards to one Curve Mastercard. The card works like a normal bank card anywhere in the world that accepts Mastercard cards – for contactless, chip & PIN, magstripe and ATM withdrawals.
New customers download the Curve app, add their existing cards, and start spending from all their card-linked accounts. Users set a default spending card and change it any time with a swipe in the app. More than 100,000 people signed up during Curve’s Beta phase, spending over £100m in more than 100 countries.
Consumers now carry an average of eight cards in their wallet, and are steadily adding more apps and products as a host of new ‘fintech’ services take a foothold in the UK and beyond. New research by Curve has revealed that consumers are optimistic about getting their finances on track in 2018 – but more than half say losing a wallet or purse is still one of their ‘greatest fears’ when out of the house.
“In recent years, wave after wave of new fintech challengers have arrived, offering services traditionally offered by banks”, Shachar Bialick, Curve’s founder and CEO, told PaymentEye.
“But disruption came with a hidden cost. Unbundling created a fragmented market, leading to confusion and inaccessibility. The average consumer is inundated with choice and noise, without a way of finding, choosing and managing their financial products in a simple and secure way.
“Following an explosion of offerings in each of these industries, along comes a technology company that re-bundles it all into one experience and changes the game. That’s what we’re building at Curve, with one card for all your spending and one app to keep on track.”
With recent research revealing that the UK consumer is more cash-phobic than one might think, integrated payment solutions like the Curve Mastercard are well-positioned for the next generation of consumers.
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A visual insight into payments trends in 2018, from Ralf Ohlhausen, Business Development Director, PPRO.
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