Well that more or less confirms that I don’t need a Curve card then! I am unlikely to withdraw Credit Card cash in any case but the ability to do so was about the only possible benefit I could find in the whole proposition once the cash back offer was curtailed.
Well that’s ashame, so their take on loyality points has not gone great, now cash, and to be honest my wallet looks far too empty with a single card in when it’s designed for more so guess I’m also unsure if Curve has any use left for me.
I just think that Curve is one of those things that looks great in the theory, has interesting tech, but isn’t a viable standalone business. Where is the revenue coming from?
I still think it’d make a cool acquisition for someone like Monzo when they’re a little bigger, though…
Why would monzo buy a non-revenue generating business?
Not for the revenue but for the tech. It’s a common pattern in tech companies (think Facebook, Apple, Google) to integrate the technology / intellectual property into their own offering, but killing the original product. I would have thought that Curve might be available at a discount, too.
(I’d use Curve to do something like point 4 here in the Monzo app).
The amount of additional data they could see from what type of purchases people put on different cards etc.
They would also see what type of users decide to pay with credit vs debit.
Curve when they started were also going to let you take out loans post purchase (a bit like monzo already is testing) to get a lower interest rate than your credit card.
Loyalty cashback schemes Curve have that would give them percentages, if it took off with enough users using it.
Not thinking Monzo would ever buy it, but can see the revenue streams it would bring in for any company.
Won’t this pretty much kill Curve now? Most people seemed to like it for treating credit cards as debit cards
Not aimed at you, Danny, but I’m curious to explore the reasons why Curve hasn’t been able to monetise these things.
My (slightly tongue in cheek) suggestion for a Monzo acquisition was based around the tech being a useful complement to the rest of the app (imagine using your coral card for different pots, or even different accounts with different providers) rather that a distinct revenue stream - because, for some reason, Curve doesn’t seem to be making the business model work…
I guess they simple need numbers to make anything work. Vast majority of their users will just be fintech fans who use it now and again as they found a loophole to save themselves money, rather than Curve vision of you buy a new big tele via their card, then they swoop in with a loan offer after.
But that’s about scale, right? Why aren’t they introducing loans now? Are they waiting for a certain critical mass of users?
(Not expecting you to answer any of these questions btw - just some of the things I’m confused about in Curve land!).
How often do you use your Curve? if you was in a shop and you go to your wallet, would you pick your curve card to pay for from Monzo account?
I imagine most users are same as me, presumptuous of me I know, but I would think why use the middle man when they don’t do out.
Someone suggest how to contact them as they do not have in-app chat, My card is not working and I have sent messages in the app, in twitter, in FB and nothing from 2 days?!
I have my Curve and my Monzo cards in my wallet. Monzo for most stuff, Curve for by credit cards, other bank accounts etc. It’s utility is more on slimming down my wallet, I suppose.
I take your broader point, which expressed differently, isn’t so much that Curve needs more users, it just needs the users that it does have to use it more? That makes sense.
Bob on, both equally I guess!
I think they sometimes take a few days to respond. Monzo, they are not.
(That said, decent service when is your turn in the queue).
I only use Curve as a proxy to legacy cards that don’t have instant notifications. I agree it’s not a viable business model for them though. Cool tech but doesn’t deliver enough value for anyone to pay for it.
It is pity that they are lacking some functions like:
-ability to turn off online payments, or ATM withdrawals only, magstripe etc
This exactly - as a standalone service. Still think it could be a useful addition to a broader proposition, though…
I got an E-Mail a while back about a new card, still not arrived though.
Was that the move to a proper debit card, or for the shiny new design?