What A Year email!

So what does everyone think about the email?

Apple Pay getting closer :crossed_fingers:t3::partying_face:
Curve Wallet would be handy for me although I use Stocard at the moment.
Curve Credit still in the works & may be handy

What have they missed out for you?

What happened to swipe to cancel subscriptions?

Personally I’m mostly disappointed that there’s no news on 3DS which limits my online use of Curve particularly with Edenred who give me staff discounts & I use a lot.

Thoughts?

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I like it a lot & think curve has come a long way in 2019. Items missing for me are

  • rule based card selection
  • further metal benefits / clarifications
  • 3DS
6 Likes

More 2020 predictions…

Marketing splurge
The Christmas giveaway was a sign of things to come. To keep VC investors happy, Curve needs to hit growth milestones and currently it’s behind, as evidenced by the we’ll pay you to use our product “campaign”. If affiliates or partnerships don’t deliver soon and the “viral” Send feature doesn’t actually go viral*, it’ll be all about spending on d2c acquisition (hopefully uncle mastercard will donate again as d2c is £££).

  • fwiw, Send is obviously a nice idea seems to be unreliable enough to keep it from going viral just yet - unexpected charges, incompatible cards, inexplicable errors, etc. There’s MVP and there’s DOA, and this is currently somewhere in between.

Metrics
Speaking of milestones, get ready for the two comma club PR campaign. There obviously aren’t anywhere even close to a million active (ie. spending) users - more like 150k, based on media reports and counting infrequent spenders. But facts don’t matter - attention, intrigue and FOMO matter, particularly when you’re trying to persuade investors that you’re the next unicorn.

Complaints and scrutiny
Move fast and break things is harder when you’re dealing with people’s money. ICO, FCA, PSR…they exist for good reasons and as complaints rise in volume (which they will as the user base grows and the product tries to do more), the level of scrutiny may force change in the business. See what happened to Revolut…

Features
Every year has begun with many “coming soon” promises, and with the money and headcount now in the business, Curve is desperate to accelerate. There are probably two years of runway left, depending on how revenue performs. It’s not make or break time, but it will be this time next year if one or more of the new features doesn’t genuinely knock the lights out. That probably means rushed design & development and all the user problems that follow (see: current wait times for customer support enquiries).

Users should remember that this is a startup, not a mature business - everything you’re using is an experiment and often it will fail.


Overall, barring a regulatory intervention Curve will still be going at the end of 2020…the question is whether it will have grown enough to make it an acquisition target or able to accelerate the next fundraise.

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Curve say that

Over 5,000 of you have made multiple HMRC payments using Curve with an average spend of over £6,000 - that’s a lot of taxes!

Or £30million

At the same time, they report over £625m of spend in 2019 through Curve so it’s a very small % of spend going to HMRC.

Curve are in effect hoping to earn 1.5% of £30m by their new charges or 450k assuming none of these customers are already metal card holders (which won’t be the case)

For such a relatively small sum, all they have had to do is alienate their most devoted customers…

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Still keeping my fingers crossed for Apple Pay (in all markets!).
US expansion sounds interesting but also expensive…

Yeah was surprised how clearly they spelled out their own rudimentary error.

Im looking forward to this Credit Announcement and how they go about implementing it,
Will we get a second curve card alongisde the cash card in the app that has a credit limit?

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I’m very positive about 2020. If they can do Apple Pay that would be awesome - literally no need for a wallet whatsoever :wink: The loyalty cards thing would further pay into that making Curve indispensable. And if they can do that instalments thing, just imagine how powerful a service Curve would be. You’d basically have to have it.

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You’re using Klarna already…?

Email? What email?

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Curve Credit sounds interesting and if they can move rather quicker the Tymit who are trying to offer the same service then that would be excellent. I’m still waiting for Tymit for over 10 months!