London-based startup Curve has launched a physical payment card that will let consumers store an “unlimited number” of bank cards and make contactless payments at point-of-sale terminals wherever MasterCard cards are accepted.
“Curve is built on the MasterCard Network and works the same way as every other card, supporting the latest Chip & Pin, magstripe and contactless technology,” Curve says. “The Curve card can be ordered through the website or via the Curve app.
“The setup process is simple — users download the app and scan an unlimited number of existing debit and credit cards through the Curve app, which syncs them with the Curve card. You set a default card in the app and can change it to another card before payment in the app with one swipe.
“The Curve app displays every transaction made with a running total across each month,” the startup adds. “The Curve card has an initial one-time cost of £35 (US$50) which includes shipping and is payable only when the card is sent out. The card and app are free to use.
“With Curve, your original card details and data are never revealed to the merchant. Instead, when making a purchase with Curve online or in-store, a unique token is used to process your payment, keeping identity and actual card numbers safe.
“Initially available on iOS, Curve soft launches in the UK to a limited number of users in the business community, including businesses, entrepreneurs and freelancers. It will roll out to consumers in the coming months.”
A video gives an overview of Curve:
“With Curve you have one card and see every single transaction in one screen,” says Shachar Bialick, CEO and co-founder of Curve. “Mobile payments have the potential to bring similar benefits, but cards work everywhere and people are used to them. So, we’ve created the best of both worlds — all the benefits of mobile payments via a ground-breaking card.”