London, 29th June 2020: London based fintech, Curve, has brought its customer services back online after an unprecedented effort following the collapse of Wirecard.
Curve was given an abrupt warning on Friday (26/6) that its accounts would be suspended imminently. To protect its customers, the company launched round the clock emergency action alongside its partners.
In less than 60 hours, all card and e-money issuing services were brought in-house from Mastercard, accelerating a long-planned migration and ensuring ongoing provision of services to customers. Curve also transitioned to Checkout.com, which processes payments, at record pace – severing all ties with Wirecard.
Curve has a unique offering that allows customers to manage all of their different cards and accounts via a single app and Curve Card. The recovery effort means customers will be able to use their Mastercard and Visa cards and pay across mobile payment platforms as normal from today.
In line with the company’s planned growth strategy and its mission to simplify and unify money for people, Curve was already working with partners at Mastercard to bring more core processes in-house.
Following the recent disruption caused by Wirecard’s suspension, the planned issuing migration was brought forward to minimise disruption and restore the service for customers, completing a process that would ordinarily take months in just a few hours.
Curve Founder & CEO Shachar Bialick said:
“The call I received at 9am on Friday was the worst a founder could hear – that our accounts would be closed imminently, through no fault of our own. “The Curve team was not deterred. With agility and flexibility, my team made a plan and executed it, minimising the impact on our customers and delivering what was said to be impossible.
“We’re delighted to have been able to complete the complex transition of services in such a short space of time. Working closely with our partners at Mastercard and Checkout.com, we ensured minimal disruption at a time of significant upheaval in European fintech.
“We’re confident the new structures we have put in place will further fuel Curve’s growth as we continue to fulfil customer demand for simplified payment services throughout Europe.”
Following the suspension of Wirecard, Curve was able to source, sign and integrate Checkout.com as its new acquiring partner, and migrate its issuing capability in-house, with the support of Mastercard in the space of a weekend.
Curve is an over-the-top banking platform, consolidating multiple cards and accounts into one smart card and app. The unique Curve card allows customers to supercharge their legacy banks to the 21st century without leaving their bank or topping-up.
Curve offers a host of benefits to its customers; you get instant notifications and categorisation of spend, you can earn instant 1% cashback at the likes of Amazon, Uber, Netflix and Sainsbury’s and Time Travel enables customers to swap spend to a different card in the app for up to two weeks after the purchase was made.