London-based fintech firm Curve has launched numberless cards in a move to bolster the security and compliance of their product offerings.
The company has removed primary account numbers (PAN) from the front and back of the bank cards, and customers can only access these details on their mobile application.
With this, Curve has become one of the first companies in Europe to come to market with such products.
The numberless card will be first available to Curve’s investors from its recent crowdfunding round.
“PAN-less technology is the future for all payment cards, and we are truly very proud that Curve’s crowdfunding investors will be among the first in Europe to benefit from the technology,” Nathalie Oestmann, chief operating officer at Curve, said.
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Making cards more secure
The United Kingdom-based company is boasting that scrapping numbers has added another layer of security in plastic cards as the crucial information is kept behind a PIN or biometric verification.
The numberless cards, however, will work as a normal card as all the information is embedded within its chip.
“Not only are these new investor cards more secure and easier to use, but the clean, de-cluttered and minimalist design is something we feel our investors are going to be very happy with. We are delighted that Curve is one of the first companies in the world to bring this unique technology to market,” Oestmann added.
Established in 2016, Curve consolidates cards issued by the banking platforms into one smart card.
It raised £6 million (around $6.38 million) last September in a crowdfunding round and sourced funds from over 9000 investors in under five minutes.
As seen on Crunchbase, to date, the company has raised $74.2 million and is backed by names like IDC Ventures and CreditEase Fintech Investment Funds.