Curve's future competitor in France

Hello,
Here in France we’ve got Max as Curve’s competitor. They provide a simple bank account and the ability to add 5 underlying cards in agregation.
Purchased are charged with the same model as Curve, they provide Google, Apple, Samsung, Fitbit, Garmin pay but no ability to Go Back in Time.
Payments in other countries are free of charge with a insurance similar to Mastercard Gold.
Max is a fintech of the french bank Crédit Mutuel.

I have just discovered Kosmos (fintech of Société Générale), actually in closed BETA. They provide card aggregation with another interesting model. You aggregate a bank account to your account and then a wire transfer from your underlying bank account to Kosmos is generated.
Wire transfers are free so they win on the commission on any purchase.
You will also have the ability to GBIT the next 24h after the purchase.
See the topics (use google translate) :
French : https://www.ma-neobanque.com/kosmos-lagregation-la-carte-bancaire-et-le-virement/
English (gTranslate) : https://translate.google.fr/translate?sl=fr&tl=en&u=https%3A%2F%2Fwww.ma-neobanque.com%2Fkosmos-lagregation-la-carte-bancaire-et-le-virement%2F

In fact, you bank statement is directly updated same as debit cards :slight_smile:

@username123 is this model in study?

Cheers

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Thanks for sharing.

Looks like Max is limited to French residents. Also can’t add foreign (i.e. non-French) cards. Too bad because it looks interesting.

Couldn’t find a website for Kosmos. I assume with “wire transfer” you mean SEPA transfers / direct debit? Personally I don’t like this model. First of all it excludes credit cards and second I prefer not to give direct access to my main bank account.

Fintech working in just one (home) country is laughing matter. If you want to get success with your product/services - go global. Like Curve :muscle:

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Here is their website https://www.kosmosapp.fr/

You’re right, this what happens when fintech are provided by “legacy” banks :frowning:

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So direct debit of your regular bank account, isnt that pretty much the same as any credit card where you dont need a bank account with them?

I think in this case, the amount for each transaction is immediately debited from the underlying account (comparable to Curve with underlying debit card). Whereas in case of a credit card with direct debit set up, it would be the statement balance once a month.

Yes exact, at every payment a wire transfer is generated to Kosmos. So your balance is up to date.
For credit card they actually don’t have solution.

I was selected as part of the BETA program I’ll let you know once the card received and activated. :wink:

So its pretty much the same as any regular direct debit card

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Without 3D secure also curve is almost working only in his home country

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no sure what you mean by that because it doenst matter in which country the merchant is / from which EU country the card issuer is from, 3ds applies to everyone

maybe I misunderstood the 3D secure topic, but it looked like UK had extended the deadline for the adoption.