Hoping to replace the wallet, the mobile app Curve has launched to UK consumers.
The service connects all of a customer’s debit and credit cards to one Curve Mastercard and hopes to simplify money management.
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 can download the Curve app, add their existing cards, and start spending from all their card-linked accounts with one card.
Research from the company states that the average UK consumer carries an average of eight cards in their wallet. Also, over half of consumers’ greatest fear when out of the house is losing their wallet.
Users can 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 ($137m) in more than 100 countries. Now there are over 50,000 people on the waiting list.
In addition, the mobile includes features such as instant speed notifications, a ‘lock card’ option, in-app and 24/7 support.
There are also no hidden fees when used overseas and removes hidden currency exchange fees. Users can also switch payments between cards with a tap, up to two weeks after a purchase, considered by Curve to be a world-first ‘Go Back in Time’ feature.
Shachar Bialick, founder and CEO of Curve, said: “Most consumers want the benefits of using multiple banks, cards and services, so they can make the most of their money. But managing it all and keeping on top of your spend isn’t easy. Now, it’s as simple as downloading the Curve app and getting started – with one card for all your spending, and one app to help you stay on track. It’s like having a ‘mission control for money’, in your pocket.”
Curve is currently free for new users, but there is a premium option, with additional Curve Rewards benefits, for a one-off cost of £50.