Tymit - "The first digital credit card"

An ad for this company have just popped up on my Facebook Feed. Not one I’ve come across before. They seem to offer the option to break payments down into fixed payments (reminds me Starling loans).

Any one heard of these before, or know anything about them?

I’ve mentioned this elsewhere, they are only an registered payment provider not an authorised one, which changes how the FCA regulate them. As they are a credit card, there is no risk as they are lending the money you are not giving them money.

It’s just important than people understand the difference. There is substantially less protection with a registered payment provider than an authorised one.

Are they still joint liable if anything goes south?

Basically no matter the status of FCA registrations or authorisation, the actual card is a Visa card, so the protection is from Visa, not the FCA.

I’m assuming from the phrasing that the question was with regards to section 75. Any lender is subject to that, regardless of how they are regulated.

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Section 75 doesn’t apply when a Credit Card issuer goes bust.

However like I said, the card is a Visa, thus you get Visa’s protection.

I think this is the first fintech I’ve seen use Visa.

My Revolut is Visa, and JAJA also uses Visa.

But yeah, Mastercard is dominant!

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We’ve all said about MasterCard’s fintech dominance, but I wonder if it’s a coincidence that (aside from the basic Revolut) both the Visa ones are credit rather than debit products. I wonder what they have elsewhere in the world in fintech? I know Chime have a Visa debit so maybe it’s more a geographic thing than what products they’re offering?

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Just out of curiosity, is this currently in beta? Is anybody out there using it, or on the waitlist?

I see it says if you invite 2 other friends to the waitlist, you all get placed as high-priority, and also get “the black card” for free?

I’ve just signed up for wait listen will see: