I completely agree with the pressure on them, but I also agree that their focus should not be on AmEx considering how insignificant they would be to the Curve ecosystem.
Just my opinion, but if I had to manually reload Curve from my AmEx card every time I wanted to do a purchase, then that just takes away from the beauty of Curve. I would rather stick to just using the AmEx card straight up
To me though the USP of Curve is using all your cards from one place. This is something that you can do with various apple pay, fitbit pay, Google pay methods. The difference between this and those being that you can also use Amex as if it were a visa or mastercard.
Maybe I’m missing why everyone else is so crazy about curve but to me, without Amex I may as well keep using Google pay for card consolidation and Revolut for the foreign exchange bit.
And also, if Curve focused on bringing more Revolut like features, like the concierge (albeit a more reliable and serious alternative) and proper insurance and travel benefits, they could take customers from AmEx without needing to work with them.
Understandably, as most of Curve’s userbase is in the UK. But in my opinion, the UK fintech market is saturated, and they should instead focus on being able to issue cards themselves in the EU, and market their service where there is no Apple and Google Pay, as that’s where this is really needed.
For a product like Curve - charging their customer for features that they already have on underlying cards is a dumb ass move.
Obviously, Insurance is a good feature BUT not at the cost of the customer because the customer has that in the underlying card. Else it should include coverage that 95% of underlying cards don’t have. Then it makes sense.
Curve should focus on features that complement to its underlying cards - say virtual cards (like privacy.com) or a GBiT V2 etc.
For me an enhanced reward scheme (which allows double dipping) and spanned across like 1% cashback on all restaurants, 2% cashback on all Travel (by MCC codes) and festures like privacy and GBiT will easily convince me for 150$ fee.
I’m afraid most concierce services nowadays don’t do much more than Google searches, which you can do yourself. The only exception seems to be Amex in the US if you need a dinner reservation or show tickets where they have an agreement with the business, they’ll also serve you a Google search for anything else
I’m hopeful that UnionPay’s entry in Europe will help disrupt the market. They are well funded and have an agressive strategy, although the fact they partnered with Millennium BCP for their European launch doesn’t give me much confidence as to the value of the card
Well, with Google/Apple pay you can only use it offline. Since a big chunk of transactions are done online nowadays, G/A pay won’t work for that.
Additionally, only a few banks and only a few countries in the EU support it yet, with Curve you can use almost any Visa/MC.
Is it not just a problem in UK with a “three party scheme” and a “four party scheme” ? With Curve in the game, Amex runs in a four party scheme and the fees rules aren’t the same…
Well, i don’t know. Wait and hear from curve asap…
In fact, the best for us all should be to see Curve going to offer a new scheme, with new rules and a nativ “Amex like” card + services… They can do it.
Time to forget amex and move on - best to concentrate on the market for a decent metal card (now you have some spare) with decent modular benefits (travel insurance, lounge, concierge, hotel loyalty, amazon prime, gadget insurance, CDW cover, what have you) for about £9.99 a month and bingo - Amex will lose customers big time…