We had announced on the 28th of January, that Amex Card will finally be supported on the Curve Cards. But it looks like that isn’t a news anymore.
Amex has officially declined the deal within 36 hours of the announcement by CurveCards.
The Reason for Amex declining the Deal –
As we had mentioned in our previous post, the card company tried bringing Amex in 2016. But it was declined by Amex. This time, the “business” reason being it doesn’t have regulatory obligations to work “with CurveCards or any individual merchants.”
American Express provided TechCrunch with the following statement –
“We participated in a limited Curve beta test; in which we explored enabling Card Members to load funds onto an e-wallet using their Amex Card in the Curve app. A very small number of Amex Card Members participated in the test. Based on the results, we communicated to Curve that we would not participate in the further roll out of Curve; because of concerns related to the overall American Express Card Member experience. Subsequently we terminated our contract with them.”
But to this disagreement, the company has promised their customers in a mail saying they would fight against this “anti-competitive” move.
More Insight –
Email sent out by Curve to their Customers –
We are extremely sorry that the top-up functionality of your Amex wallet is currently disabled.
Like thousands of other UK merchants, Curve has a valid merchant agreement to accept Amex payments into its e-wallet. However, on Tuesday evening, Amex decided to terminate this agreement and block all Amex transactions to Curve with immediate effect.
Amex has given no good or fair reason for their decision; and we believe it is entirely disproportionate and discriminatory to Curve and all our (joint) customers. UK payment regulations clearly state that Curve should be allowed to access the Amex payment network; on a level-playing field with every other fee-paying and legitimate merchant.
Rest assured that you can still spend the funds that you have already topped up to your existing Amex Wallets. If you have contacted us for support, we apologise for the delay in response; and will endeavour to do so as soon as possible. We will update you as soon as we have any further information.
With your interests in mind, and our mission to deliver a truly innovative product; we intend to fight Amex’s decision with our full might. We believe financial freedom is the future and we are prepared to fight for yours.