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September 17, 2021

UK fintech Curve unveils BNPL offering

By Shalini mani

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.

Free Report
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What does the future hold for BNPL market?

The global Buy Now Pay Later (BNPL) market is estimated at a massive $120 million in 2021 – representing just less than 3% of the global ecommerce market. Yet the user-base is massive, with leading provider, Klarna, alone reportedly having 87 million users in 2021. This market is only expected to grow, with established companies like Apple and Goldman Sachs moving into the BNPL sector in bids to capitalize on this trend. To help you make the most of this growing market, GlobalData’s Buy Now Pay Later in 2022 and Beyond report provides detailed insight into the BNPL sector. This report:
  • Discusses the disruptive potential of the BNPL sector on the payments industry
  • Identifies the leading companies that are driving sector growth and the benefits this new payments solution provides to both merchants and consumers
  • Analyzes the consumer’s risk of using BNPL loans and government attempts at introducing regulations to the sector
  • Uncovers the main risks that consumers expose themselves to when borrowing with BNPL
Download this free report to get to know where this developing market is headed, and how you can reshape your strategies.
by GlobalData
Enter your details here to receive your free Report.

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

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.

“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.

Free Report
img

What does the future hold for BNPL market?

The global Buy Now Pay Later (BNPL) market is estimated at a massive $120 million in 2021 – representing just less than 3% of the global ecommerce market. Yet the user-base is massive, with leading provider, Klarna, alone reportedly having 87 million users in 2021. This market is only expected to grow, with established companies like Apple and Goldman Sachs moving into the BNPL sector in bids to capitalize on this trend. To help you make the most of this growing market, GlobalData’s Buy Now Pay Later in 2022 and Beyond report provides detailed insight into the BNPL sector. This report:
  • Discusses the disruptive potential of the BNPL sector on the payments industry
  • Identifies the leading companies that are driving sector growth and the benefits this new payments solution provides to both merchants and consumers
  • Analyzes the consumer’s risk of using BNPL loans and government attempts at introducing regulations to the sector
  • Uncovers the main risks that consumers expose themselves to when borrowing with BNPL
Download this free report to get to know where this developing market is headed, and how you can reshape your strategies.
by GlobalData
Enter your details here to receive your free Report.

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