TrueLayer collaborates with Curve

Wednesday 8 June 2022 10:48 CET | News

TrueLayer, a UK-based Open Banking platform, has announced its collaboration with Curve, a financial super app, giving Curve customers more control and flexibility over their finances.

Curve is a financial app where customers can keep all their cards and accounts in one smart digital wallet to manage their finance and gain insights on their financial lives. As part of its mission to help its customers and further improve the Curve experience, it is collaborating with TrueLayer to deliver instant bank payments and recurring payments to its ecosystem.

The Competition and Markets Authority (CMA) has mandated the UK’s nine largest banks to provide variable recurring payments (VRPs) that support the automatic transfer of money between two accounts belonging to the same person, referred to as ‘sweeping’. 

Using payments powered by TrueLayer, Curve customers will be able to make purchases via instant bank transfer using the Curve all in one card. They will also have the flexibility to set up a recurring payment mandate for future purchases. For customers of its credit feature, Curve Flex, recurring payments will automatically sweep funds from their linked current account for scheduled repayments.

Real-time payment confirmation provides Curve with additional assurance that every transaction has been authorised and funds received. Unlike Direct Debit or card-on-file payments, TrueLayer provides real-time settlement into a merchant wallet that will enable Curve to access funds faster and manage their cash flow more effectively. It will also reduce operational costs by removing the overheads associated with managing legacy payment methods.

To find more about their product, check TrueLayer’s company profile in our company database. 

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: partnership, recurring payments, Open Banking, super app, e-wallet
Categories: Banking & Fintech
Companies: Curve, TrueLayer
Countries: Europe
This article is part of category

Banking & Fintech




Discover all the Company news on Curve and other articles related to Curve in The Paypers News, Reports, and insights on the payments and fintech industry:

Industry Events