Section 75 is a law that applies exclusively to credit cards, ensuring providers share responsibility with merchants for purchases ranging from £100 to £30,000. Debit card users have historically not had this level of protection, leaving them vulnerable in cases of faulty goods. Looking to bring this protection to those wanting to make instant payments, the digital wallet, Curve has extended section 75 protection to purchases made using its wallet.
According to a PYMNTS Intelligence report, Digital Wallets Beyond Financial Transactions: U.K. Edition, the popularity of digital wallets is only set to increase in the UK, with 44 per cent of respondents indicating they are eager to continue using digital wallets in the next three years. As such, digital wallet providers must do all they can to keep this momentum going and Curve providing better protection is one way to do this.
When a customer adds any card to their Curve wallet, they automatically enable section 75 protection regardless of whether they use a credit or debit card when making payments via Curve. This capability has been made possible due to the combination of Curve and Curve Credit’s regulatory statuses comprising an ‘e-money payment institution’ and ‘consumer credit provider.’
Separately, it is noted that the recent rulings in the EU and US requiring Apple to unlock the iPhone’s near field communication (NFC) capabilities have enabled Curve Wallet customers to make payments on their iPhone using Curve or their Curve card, which includes enhanced features from Curve, such as access to credit and purchase protection.
Whenever a customer has an issue with their purchase and their claims have been ignored or rejected by the seller, section 75 can be invoked to resolve the dispute. As of the time of the announcement, only Curve provides full protection on every card in its wallet.
Why is section 75 so important?
Almost a quarter of Brits have experienced a problem with an item they’ve bought, with consumers spending over £2billion and six million hours trying to fix it. Moreover, debit cards are the most common payment method in the UK, accounting for nearly two-thirds of all payments, with 1.9 billion more debit card transactions than credit card transactions in October 2024.
Section 75 is a long-standing consumer protection law in the UK that ensures credit card providers share responsibility with merchants for purchases ranging from £100 to £30,000. This safeguard has until now been unavailable to debit card users, leaving them vulnerable in cases of faulty goods, unfulfilled services, or retailer insolvency. Curve is looking to bridge this gap and offer the same robust regulatory protection on purchases made through its digital wallet, regardless of the card used.
Putting power and security into the hands of consumers
Shachar Bialick, founder and CEO of Curve commented on the announcement stating: “Curve has always focused on its mission to empower customers to make more of their money through selection, pricing and convenience. It is only logical that we remove a real concern our customers have when they pay, by creating the safest, most secure way to pay, underpinned by regulatory protection.
“By bringing section 75 protection to its wallet, Curve is, again, putting the power back into the hands of our customers. This is a vital step as we move towards building the most secure and versatile digital wallet available, where the customer is at the centre.
“While issuers and OEMs vie for dominance in the wallet wars, Curve leads the way by delivering 100 per cent bank coverage, enabling rewards stacking, and eliminating foreign transaction fees from all linked cards. Now Curve is the first wallet to extend full Section 75 credit protection to every purchase made, setting a new benchmark for convenience and financial peace of mind.”
