Curve Flex will allow user to pay later for almost any purchase made at any merchant, using any card, up to a year ago. Credit: Business Wire.

UK-based fintech firm Curve has become the latest company to enter the Buy Now Pay Later (BNPL) space with its offering called Curve Flex.

The company secured Financial Conduct Authority (FCA) approval earlier this month.

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Curve Flex will allow users to pay later for almost all purchases made using any card.

Furthermore, it will let users convert purchases made on cards linked to the Curve platform in the last 12-months into an instalment plan using Go Back in Time technology.

Curve claims that its offering is better than existing BNPL products in the market, as it is not limited to specific merchants, accounts, cards, or products.

Curve founder and CEO Shachar Bialick said: “Curve Flex is almost certainly the most flexible credit solution in the market.

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“With no limitations on merchants and the ability to accommodate all Mastercard, Visa, and Discover cards, Curve Flex will provide customers with access to easy and affordable credit.”

The customers can avail Curve Flex by swiping a transaction and then select the number of instalments. The transaction will be refunded in full immediately.

Curve has been testing Curve Flex since September last year.

According to the firm, its 1,600 beta users have already ‘Flexed’ around 7,000 transactions into affordable instalment loans worth over £1m.

Curve Credit head Paul Harrald said: “Curve is giving customers the unprecedented ability to convert transactions made up to a year ago into free or low-interest instalment loans.

“Being able to Go Back in Time and Pay Later is going to forever change how UK customers think about managing their personal finances and cashflow.”

In September last year, Curve allowed its users to add their Curve card to Google Pay wallet in 14 more countries in Europe.