8.6 C
New York
Thursday, February 25, 2021
Home Challanger banks Curve is testing the Curve Credit, a Klarna like service

Curve is testing the Curve Credit, a Klarna like service

Curve is a UK based banking platform that consolidates multiple cards into a single card and app. According to a TechCrunch report, Curve is quietly testing its “Klarna rival” option.

The “Curve Credit“ is being tested with just a small number of customers at the moment. The full launch is expected later this year.

Just like Klarna, it offers credit on purchases made with your Curve card, which is to be paid back in installments.

The major difference to Klarna is that Curve doesn’t necessarily require merchants to directly support Curve Credit as a payment option at checkout. Curve users are able to pay with their Curve debit card to access the feature.

However, some direct merchant partnerships could allow additional perks, such as merchant subsidised interest-free payments for a set period.

As a very original feature seems the “go-back-in time” credit. For example, a recent transaction is re-routed to Curve Credit where you’re presented with a repayment plan and any interest you’ll be charged.

Recently Curve also rolled out premium Curve Metal card and other features in the European Economic Area (EEA).

Read also: Curve launches premium Metal card in Europe

Leader of Curve Credit is Paul Harrald, a former founding team member of SAV Credit (now called New Day). Most recently, Harrald was at Chinese Venture Capital firm CreditEase where he ran U.K. and European private equity investments.

Avatar
Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

TransferWise gets rebranded as ‘Wise’

The rebranded company Wise drops the part Transfer as a signal of moving on from the money-transfer focus of the company.

Revolut about to increase fees and cut number of free trades

Revolut introduced additional fees on its free plan and trading on the Revolut platform will also become more expensive.

Exclusive: An interview with Michael Schweikart, a co-founder of the sustainable banking provider Tomorrow

Tomorrow is a social business FinTech company and a neobank, that was started in 2018 by founders Inas Nureldin, Jakob Berndt, and Michael Schweikart with a vision to use money as a lever for positive change. Since its launch in 2018, the company has 50+ employees and 55,000+ customers.

N26 introduces 100% digital account

The German digital bank has just announced the launch of a 100% digital N26 Standard account equipped with a virtual card.