Curve Launches BNPL Product – Finovate



Curve, a U.K.-based payment card technology company, announced its own version of a buy now, pay later (BNPL) product this week.

The company is known for its unique payment solutions, such as its Go Back in Time feature that lets consumers switch payments from one card to another for up to 90 days after the transaction was made. Today, Curve is launching Curve Flex, a tool that builds on Go Back in Time.

Curve Flex allows consumers to convert almost any purchase from the past 12 months into an installment plan, as long as the card they used is linked in the Curve Platform. After the customer makes a purchase, all they need to do is swipe the transaction and select the number of installments. Then, Curve refunds their transaction in full almost instantly.

Unlike most BNPL tools, Curve Flex isn’t limited to specific merchants, cards, or products. It can be used on retail purchases, online orders, household bills, and more. Also unlike many BNPL tools, Curve’s offering charges interest based on the purchase amount and the number of installments.

“Curve is giving customers the unprecedented ability to convert transactions made up to a year ago into free or low-interest installment loans,” said Head of Curve Credit Paul Harrald. “Being able to Go Back in Time and Pay Later is going to forever change how U.K. customers think about managing their personal finances and cashflow.”

Curve Flex, which has been in beta for a year, already has 1,600 users that have opted to pay later on 7,000 transactions worth over $1.4 million (£1 million).

Photo by Jacob Kiesow on Unsplash

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