Digital Payments

Curve’s Digital Banking Customers Can Now Use Apple Pay

Curve’s Digital Banking Customers Can Now Use Apple Pay

The European banking platform Curve is now offering Apple Pay to its customers, Curve announced on Tuesday (Jan. 28).

The Curve card, which is issued by Wirecard, streamlines multiple cards and accounts into one smart card and app. With the addition of Apple Pay, customers can make purchases on iPhone, Apple Watch, iPad and Mac.

Diego Rivas, head of product-OS for Curve, said the Apple Pay integration complements “Curve’s unique money management features” and the banking platform’s drive to simplify its customers’ finances, “enabling even more ways for customers to pay.”

By consolidating multiple bank cards into one, Curve aims to simplify money management. With its “go-back-in-time functionality,” customers can also transfer transactions up to two weeks after making a purchase.

Apple Pay works with all cards that have been linked to the Curve app.

Curve for Apple Pay lets customers shop without carrying money or a wallet while still getting all of the features that Curve offers. There is no limit on most in-store transactions and the 1 percent cash-back offering still applies. Customers can also change accounts when shopping.

To ensure the security of transactions, Apple Pay does not store card numbers in any device or server. Each device is assigned a device account number that is encrypted and securely stored. In addition, transaction authorizations get a one-time unique dynamic security code. Every Apple Pay purchase is authenticated with Face ID, Touch ID or a device's passcode.

Curve closed a Series B funding round in July, at a valuation of $250 million. The platform became the fastest U.K. startup in history to raise £4 million in crowdfunding on Crowdcube. It reached its £1 million target in minutes and closed out a record-breaking round at just under £6 million.

Last month, Curve introduced person-to-person (P2P) payments. “Curve Send” enables the use of any linked bank account to send funds to people in over 25 different currencies.

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NEW PYMNTS STUDY: LEVERAGING THE DIGITAL BANKING SHIFT – SEPTEMBER 2020  

The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

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