Yahoo Finance London fintech Curve apologises over terms of service error
Curve has apologised over an erroneous terms of service update it sent to customers.
The London fintech sent an email to account holders last week in which it told them: “You will now be able to use your Curve card to pay merchants that may otherwise be blocked by your underlying payment source provider due to them being seen as “high risk.”
But eight days later, customers were sent an update in which they were told that the company would not permit high risk payments that underlying payment sources would have blocked.
“We are sorry for any confusion we have caused,” the company said.
The terms of service update allows Curve to process payments on websites such as porn, gambling and cryptocurrency trading. These categories of transactions are sometimes blocked by payment companies over concerns about higher rates of fraud.
Curve said it made the move because “the ultimate choice of how to spend, send or manage money should be with the individual consumer,” adding that it would introduce a transaction fee for payments of this kind.
Curve told customers: “There is a paragraph in the cover email we sent on 13th May 2024 which states: ‘You will now be able to use your Curve card to pay merchants that may otherwise be blocked by your underlying payment source provider due to them being seen as “high risk.”’
“We wish to clarify that if your underlying payment source provider does not permit certain transactions, Curve can’t allow them either!
“Therefore, as per paragraph 22 of our Terms of Service, you can now use your Curve card to transact with merchants that Curve may have blocked in the past due to them being perceived as high-risk, but you are unable to circumvent controls put forward by your linked card/account issuer if the issuer does not allow such high-risk purchases.
“Curve will continue to block certain transactions or specific merchant category codes where your underlying payment source provider blocks them.
“Thank you for your time and we are sorry for any confusion we have caused.”
