Financial super app Curve launches first credit card

Financial super app Curve has launched its first credit card in the UK which, it claimed, is the only all-in-one payment card providing Section 75 protection to every card, including debit cards.

Customers of Curve can link their existing cards to a digital ‘Curve Wallet’, and then whichever card they select in the app is charged when they use their Curve credit card to pay.

All eligible purchases made using the Curve credit card will be covered by Section 75, which is regulated under the Consumer Credit Act 1974, including those charged to a debit card. Section 75 protection is not typically available to debit cards.

Curve has also made some additions to its credit offering, ‘Curve Flex’, which gives users the option to split future and past purchases into monthly instalments.

With Curve’s new credit card, customers will be able to reduce their borrowing costs and increase their rewards with Flex.

It also revealed plans to introduce the ability to refinance expensive credit card debt with a lower cost amortised loan using Curve Flex, and to provide the option to move an entire balance to 0% balance transfer cards.

Curve, which is live in 32 markets across the UK, European Economic Area and the US, recently raised £58 million in a funding round.

A year ago, Curve partnered with financial API platform Salt Edge to enable it to meet the Open Banking compliance and regulatory requirements of both the European Banking Authority (EBA) and the Bank of Lithuania (BoL).

Main image: Curve founder and chief executive officer Shachar Bialick