A startup based in London has united with Mastercard Inc. to roll out a payment card that permits users to retroactively select a different debit or credit card for a transaction they have already carried out. They refer this phenomenon as “financial time travel”.
Commencing this week, Curve will provide users the opportunity to get back in time and swap the card utilized for any given purchase for up to 2 weeks after the transaction. This is claimed to be the first of its kind invention. The startup also claimed that it was preparing to declare support from 2 huge international banks shortly, but refused to offer more information.
Curve, which has a copyright pending for the latest tool, offers users one card that can combine all of their current Visa and Mastercard payment cards. Customers can carry just the Curve card and swap among the cards they wish to utilize for a transaction via a mobile phone application.
Established in 2015, the startup is amongst a rising group of young firms that tend to make enhanced use of digital technologies to turn banking and payment products more user-friendly. The Shachar Bialick, Chief Executive of the startup, claimed that the new time travel feature will offer users more time to select the most suitable means of payment for a given purchase.
For instance, customers might have money available in their existing account days after a transaction is done with a credit card and might thus wish to swap the purchase to a debit card to prevent interest rates. “The customer can handle their flow of cash much better,” Bialick claimed. “It is very difficult to decide at the point of sale.”
The feature might also allow customers to take better benefit of card rewards, he claimed. While customers might be able to swap cards, the alteration would take place within platform of the startup, so merchants will only see the initial purchase and will not be charged for processing the card twice.
In short, Curve has made life simple for people all over the world. The company has claimed that its card will be soon available all over the world.