Curve, the consolidated banking platform, is now testing Curve Credit with a small number of customers. Curve Credit is scheduled to be publicly available this year and it offers credit on all purchases done using a Curve card. The company created the feature as a means to compete with point-of-sale finance companies.
Curve's new credit feature differentiates itself from other point-of-sale finance companies by providing consumers with the ability to ‘Go Back in Time.’ This means that consumers will be able to retroactively change the bank account or card used to process a payment. Users can access the feature through their recent transactions. However, during the testing period and roll out the interest rate will be 0%.
Image Credit: Curve
Why This Trend Is Growing
- Curve Credit
- The introduction of the new credit feature allows users to access credit on all purchases done using a Curve card.
- Retroactive Credit Rewards
- Curve's 'Go Back in Time' empower users to retroactively change the bank account or card used to process a payment.
- Point-of-sale Finance Competition
- The new credit feature is a means for Curve to compete with point-of-sale finance companies.
Industries Being Reshaped
- Fintech
- The introduction of Curve Credit will disrupt the fintech industry by providing a consolidated banking platform with credit reward feature.
- Credit Cards
- Curve Credit is introducing a new credit feature which will disrupt the credit card industry by allowing users to go back in time and change the card used for a payment retroactively.
- Payment Processing
- Point-of-sale finance companies that dominate the payment processing industry will face competition from the new credit feature by Curve Credit.
