Payment-transfer plank just brought in $42 million from several big investment firms, including , and – not to write about a few high-profile individuals take to AOL co-founder Steve Case, last Charles Schwab leader top banana David Pottruck and latest JP Morgan villainy chairman David Golden. With this backing, Revolution is ready to hew away at the big brat belief card companies like Visa and Mastercard, as well as competing online services in the same way as PayPal. With its valuation pegged at $200 million, the St. Petersburg, Fla. retinue is still hawking its two chief services: RevolutionCard and RevolutionMoneyExchange.
The earlier is an solid rely on index card that requires no interchange fees, and only charges half a percent for proceeding processing (compared to the 1.5 to 4 percent skimmed by the ritual dance-card companies). Accepted at 650,000 merchants and 85 percent of ATMs across the U.S., the well also yields reward points to engender person loyalty, including discounts on gas.
RevolutionMoneyExchange, on the other hand, is an online peer-to-peer pay organized whole - great because it’s unimpeded to use. The company’s master plan is regularly to device people up for this service and then pitch them the company’s card. In putting together to the investors listed above, Revolution Money chairman Ted Leonsis also contributed, and is the promote biggest shareholder behind Case. The public limited company continue raised pelf in September 2007, from those already listed, as well as.
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