Hard to stay profitable - Why don't you sell the users to card issuing companies?

According to the latest plans about Curve X and the upcoming limitations to the Curve Blue card it seems Curve has problems to stay profitable.

It looks like the only focus is on rising the user fees.

A old saying is that sometimes it’s hard to see the forest because of all the trees.

Curve has worked hard to get in the center of the card payment process. It is the hub for the users payment cards, the location where the users select which card to use for each payment situation.

Curve therefore has a user base of interest for companies that issues credit and debit cards - banks, financial institutions and so on. You have extensive records of each user their purchase patterns.

Yet the only thing the Curve newsletters only shout about are the Curve premium alternatives.

There is only need for one card and that one should be free of charge.

The focus should be to get as many users as possible with as many cards connected as possible to show the muscles on the market and get as much sellable data as possible.

Establish a card sign up shop inside the app with Curve exclusive card offers on payment cards the users can add.

Tell the card issuing companies that they can get new customers through the Curve app shop. Fee them to add new offers.

Then fee the card issuing companies for each sign up and each payment made on these cards.

This is how you become profitable. You sell the user base to card issuing companies since you are the hub as you wanted.

But the clock is ticking, the latest junk mails about card limitations has made the user base both angry and confused, (see the Curve X Feedback thread) and there is an upcoming competitor named VitraCash that still is weak but appears to be hungry. We might jump to it if Curve does not improve.

Re-assign the card limiting developers to make a card shop in the app and call some popular cashback offering credit card companies that they can add offers for FREE for some months (you know how to type spam I have the inbox full). Users love cashback and the shop will ignite.

5 Likes

Interesting approach, but personnaly I prefer to pay than Curve selling all my datas. Could let free users to agree with that maybe. I agree on partnership, the rewards tab is useless, just the basic affiliation link of the most popular service that probably every curve user already use.

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The data selling point could be done without actually giving out the data. The card companies could select properties of the users they want to target for the card they want to offer.

Age range, gender, living location, income, minimum spend limits on certain categories and so on. They do not get to see the users in this step. Maybe a range. Like “Your criteria matches approximately 33000 potential users”.

Say you have created a new travel friendly card and want to find users for it that buy a lot of tickets. Curve can show the card offer in the app to the users. Targeted marketing.

On the user side the melody could go like “We have noticed that you buy a lot of travel tickets and we think this new card could fit you. You get x% cashback for every travel ticket purchase and free travel insurance blah blah blah.”

Then some users might accept and sign up for the new card - in this step the card company will get to know the user. Curve could take care of the whole registration process or forward the user to the card issuing company web page.

By having a shop inside the app where you can add new cards will speed up the card adding process if it is possible for the card issuing companies to send card credentials back to Curve when the card is created and ready to use.

The relation with the card issuing companies will warm up as a side effect. Instead of unwillingly accepting or maybe declining that their cards are used through Curve they will shift to a desire for their cards to be used with Curve. Because Curve generates new reliable users who generates more profit for them.

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Smart Rules are possible to sell too.

Tell the card issuing companies that Curve can offer matching users smart rules for certain categories that makes the users pay with their cards. Fee the card issuing companies for the service.

This can be done regardless of how the card was added to Curve.

Curve can for example sell a smart rule in-app ad display for grocery categories to a bank that is shown for all users that has their cards in the app.

A targeted user might respond to the ad by finding the suggested smart rule usable and then add it to their list of smart rules. And voila - suddenly the bank will get all the grocery payments for this user on their card.

There must be a benefit for the user or they will not add the rule however.

Special offer! You have the Barclay’s credit card in Curve. Add the Barclay’s :heart: Burgers smart rule to make all your fast food payment with it and get 3% back on each fast food purchase.

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If it was any other company than Curve it would have worked… but this company struggles with the tiniest features… takes ages for them to launch and when they do it doesn’t work properly.

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Maybe I should suggest it to VitraCash then, they seem to be the closest competitor although they currently struggle with security issues.

:laughing::rofl::joy: Have you managed to process a single transaction with VitraCash (ever)? :upside_down_face:

No they are not useable at the moment and maybe they never will be, but it looks like they want to offer a quite similar product to Curve. They even have the same community system.

I can set up the same community system…

Vitracash is sadly vitratrash… I would be very surprised if they amounted to anything…

Even before they got hacked it felt like the project was going south

1 Like

True, sadly… :no_mouth: