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Wednesday, August 19, 2020

Samsung Pay – Go Back in Time. Who will introduce it in India?

Samsung Pay in association with Curve announced the launch of Samsung Pay Card for UK customers on August 18th, 2020.


The tagline of Samsung Pay Card is “Introducing Samsung Pay Card, powered by Curve. Stored in your Samsung Pay wallet, it’s a digital card that simplifies your spending’.

            Samsung Pay Card in UK, is a digital-first card powered by London-based Curve, which consolidates existing credit and debit cards into one — i.e Samsung Pay Card, a new Mastercard debit card from the mobile handset giant.

            The main USP of this joint launch is the consolidation of customer’s existing credit and debit cards into one card – i.e Samsung Pay Card.

            The consolidation is available for both MasterCard Visa Cards. AMEX and few other Loyalty Cards are already on Samsung Pay. Thus, customers can combine majority of their credit cards and debit cards into the Samsung Pay Card.

            There are numerous benefits available for the Samsung Pay Card users.

            One major benefit will be Curve’s proprietary tool, “Go Back in Time”.

            Curve’s “Go Back in Time” Tag Line is - Paid with the wrong Card? -

            The Curve User, can simply rewind. Curve’s unique Go Back in Time feature lets the card holder switch payments from one card to another, up to 90 days after the payment was made!

“Go Back in Time”, allows the Curve user to move transactions made on using your Curve card from one payment card in your Curve app to another. It's free, and can be done entirely in the app!

            The 90 days window was recently introduced after the Covid19 blowout, from the earlier 14 days window.

            Of course, there are Terms and Conditions for the usage of Curve’s “Go Back in Time”. The users have to be aware of a) Curve Charges b) Card issuers charges c) Only available once for each transaction.

            The “Go Back in Time”, feature will be really useful for BBPS Transactions.

01) Bank account holders can set up Auto Pay for the respective bills.

02) On ‘Auto Pay’, transactions account holders can choose to shift the transaction to another credit card or debit card, depending on the benefits associated with the shift.

03) Account Holders need not set-up Auto Pay to multiple cards.

04) Account Holders can set up for Auto Pay for 1 default card, and then move the transactions around.

05) This way they need not worry to maintain adequate balances in multiple bank accounts.

So, who will introduce “Go Back in Time”, feature in India.

            References:

01) https://support.imaginecurve.com/hc/en-gb/articles/115003750829-What-is-Go-Back-in-Time-

02) https://news.samsung.com/uk/samsung-gives-millions-of-customers-more-control-over-their-money-with-the-all-new-samsung-pay-card-powered-by-curve

03) Curve extends ‘time travel’ to 3 months, letting users make pre-coronavirus card decisions

 


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