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Curve, the London-based fintech that allows you to consolidate all your bank cards into a single Curve card and an app to help manage your expenses, now supports Amex cards.
In fact, the feature is being reinstalled. It already existed when Curve was in testing in 2016 before being unceremoniously blocked by American Express. Both companies seem to have finally settled their differences, which is definitely good news for Curve customers who also have a U.K. Amex card.
Technically, in beta, the new Amex feature allows Curve customers to add their Amex cards to Curve and spend with Amex wherever the MasterCard Curve is accepted. This, says the start-up fintech, solves the inconvenience of Amex card members facing some retailers who do not accept Amex cards because of the higher card fees.
It can be badumed that Curve willingly accepts these fees to better serve its customers, although we do not know the specific commercial terms of any commercial agreement, if any.
Another good news is Curve says that Amex card members will continue to earn American Express Rewards points when they spend with their Amex Curve card and earn Curve Rewards points at the same time. Curve itself offers awards to 50 leading brands, including Amazon, Uber, Tesco, Sainsbury, Waitrose, Ocado, Selfridges, BP, and more.
This should mean that Curve customers who change Curve application to reload their Amex card under the hood will receive double the rewards. Once from Curve and once from Amex per eligible transaction.
Curve claims to have tested Amex compatibility with its closed beta platform since November. During beta testing, at least 500 Curve users spent over a million pounds on their Amex cards by paying with Curve, apparently.
Curve's founder and CEO, Shachar Bialick, adds, "Ensuring Amex compatibility with Curve was one of our top priorities and most features requested by our customers. However, bringing Amex back to Curve was not an easy task. There were challenges around the brand and the advertisements, some of which still exist.
In a brief appeal, Bialick paid tribute to his team for getting the support of Amex and the "progressive regulatory and competitive landscape" in Europe and the UK, which he says promotes space competition. and financial and allowed Curve to bring Amex into its platform. "We hope that Amex will continue to support the interests of their clients," added Curve's founder.
In other words, it is probably the proof that a start-up stands against the borders of Open Banking and PSD2 to innovate on behalf of its customers and to find that the regulation holds the road. Let's hope we'll see more innovations coming in the months and years to come, along with other Fintech startups.
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