European Fintech Curve discovers innovative way to help customers free up more cash during lockdown
- Covid-19 , Payments , Banking
- 22.04.2020 10:17 am
Curve, the banking platform that consolidates multiple cards and accounts into one smart card and app, now allows customers to move past payments onto a different card for up to 90 days after the payment has been made.
The feature, known as Go-Back-In-Time, was already available with a two-week window to switch between cards but Curve has now vastly improved the feature, extending the ability to switch payments made up to three months ago. This enables people to transfer any payments made on Curve long before the pandemic hit Europe to a different card.
Covid-19, and the subsequent lockdown in countries worldwide, is a huge shock to the global economy. The rapidly escalating unemployment rate and economic uncertainty are putting an enormous strain on personal and business finances, impacting people’s ability to pay their essential bills such as rent and utilities.
Before the lockdown began, and because changes to everyday life have been so sudden, many people and businesses made decisions or made purchases which may now have put unexpected pressure on their cash flow. To counter this, the Curve team has been working around the clock to produce a solution that will give its customers increased flexibility and control in these difficult days as well as greater access to cash.
“We hope that extending our unique Go-Back-In-Time feature helps our customers who have been financially impacted by Covid-19 and enables them to more easily get access to cash from their bank accounts,” said Shachar Bialick, Founder and CEO of Curve.
“Although we cannot reverse the initial spending, we have found a way to help our customers with their cash flow by extending the time-travel functionality by more than six times what it was. While we might not be able to stop the economic fall right now, we’re doing all we can to widen the security net for our customers who will now be in a better position to reassess their finances and be able to get more immediate access to cash to pay their bills,” he added.
The feature is available to all Curve customers immediately, with the 90 day extension planned to last throughout the Covid-19 crisis.
Curve is the smart and simple way for people to manage their finance and enjoy a better and more modern banking experience across their accounts. By enabling people to interconnect their banks to one card and app, Curve provides its customers with greater financial convenience, control and peace of mind.
The company has recently announced that it is one of the first companies in Europe to provision numberless cards to its crowdfund investors. Curve also announced the appointment of former Payment Systems Regulator CEO Hannah Nixon as Advisor last week.