Curve, which is a London-based fintech company, just announced the biggest feature for its app. Curve app is an all-cards-in-one app that lets you consolidate your bank cards to manage your spending effectively. It is truly one of a kind app, and the features are totally unique and useful for its users. In fact, the users who have signed up and used the app, about 70% of them are still using it. Therefore, the app has broken through the mobile app industry average in user retention rate by far. The total idea of the app is to let the user have one wallet and one card to leave all your other debit and credit cards and cash at home.
Zeroing Down The International Fees
The biggest concern of the users using any monetary card in the abroad is the foreign transaction fee. This is where Curve has killed all its competition and encouraging people to use their app. They have zero fees for abroad spending. They have also announced the real exchange rate with no hidden fee which is very attractive for the users. Even before this announcement, Curve had the better exchange rate and fee structure than most of the banks. But this the zero fees move, Curve is competing with the leaders in the business and likely to topple them with the right marketing mindset. As a matter of fact, it is now going to compete with Revolut, Starling, TransferWire, and Tandem.
Zero FX Proposition – Behind The Scene
The company has revamped the platform significantly for the last six months to compete harder in the currency conversion and at the point of purchase. It is their innovative technology that helps them get the FX swaps on top of any card that the users have loaded into their Curve wallet. However, there will be different limitations based on the Curve card the users are using.
The pricing is also going to change starting from November this year. This feature also ensures that you can enjoy zero fees on any debit and credit card you have just by topping up Curve wallet. Therefore, the feature is applicable to everyone. Besides, the zero fees, there are various advantages Curve provides to the users. Currently, Curve supports 150 global currencies as compared to Revolut which has only 24 currencies. The company is aiming to make the users ditch their existing cards and use Curve card for all the benefits they have to offer.