Lloyds buys digital wallet provider Curve

(Sharecast News) - Lloyds Banking Group said on Wednesday that it has bought London-based digital wallet provider Curve for an undisclosed sum. Curve's digital wallet platform brings all cards and alternative payment sources into one secure platform while adding "innovative" money-saving and loyalty features, Lloyds noted.

Authorised and regulated in the UK and EEA, the company processes billions in payments annually through its technology platform.

"Alongside the services that Curve currently offers to customers, the integration of Curve Pay, Curve's cutting-edge technology and digital wallet, into Lloyds Banking Group's current digital offering, will allow Lloyds Banking Group to offer its customers an enhanced payments experience within mobile banking," Lloyds said.

"The combination will provide our customers with expanded payment flexibility and access to advanced digital wallet features including switching past purchases across accounts, earning rewards on top of existing card benefits, accessing Pay Later solutions, and avoiding foreign exchange fees from any card linked to its app."

The acquisition is expected to complete in the first half of next year.

Lloyds said the deal is not expected to have a material impact on the group, or to impact full-year guidance for 2025 or 2026.