Revolution Money

From WikiCover

On September 24, 2007, Revolution LLC launched a new subsidiary, Revolution Money, a payment platform that leans on Internet-based technology.

Revolution Money has created a Web 2.0 payment platform designed for a mainstream consumer audience, especially those who enjoy the convenience of handling their financial affairs and purchasing online.

Revolution Money's first two flagship offerings are Revolution MoneyExchange, a free money transfer service that powers online transactions, and RevolutionCard, an anonymous, PIN-protected credit card.

Revolution Money Exchange's money transfer service is the first online payments platform for social and instant messaging networks, allowing consumers to safely transfer funds via the Internet to anyone, even merchants, for free.

Revolution Money's sophisticated new payment system, based on secure Internet technology, slashes transaction fees to 0.5 percent, creating significant savings for merchants and enabling them, in turn, to offer their customers new and immediate rewards, such as cost savings and loyalty programs.

Revolution Card can be accepted through existing payment processors or directly through Revolution Money. It can seamlessly integrate into existing Point-of-Sale (POS) software and implementation can be completed remotely. Revolution Money has effectively created the first win-win credit service for merchants by offering a drastically reduced-interchange service that increases their profitability.

To demonstrate its versatility, Revolution Money has launched pilot programs in a number of segments, including credit, online, gift and person- to-person.

To gain acceptance by merchants, Revolution Money has established key strategic partnerships with leading merchant acquirers and processors.

Unlike most bank credit card issuers who are limited to a narrow scope of credit approval guidelines specific to their bank, RevolutionCard seamlessly utilizes multiple partners to achieve unparalleled consumer approval rates.

Revolution Money recently secured an additional $50 million in Series B venture capital funding. The financing round was led by Citi, Morgan Stanley, Deutsche Bank and Ted Leonsis, and included its controlling investor, Revolution LLC. In addition to the equity financing, Revolution Money has secured debt financing from Citi to fund growth of Revolution Money's prime consumer loan portfolio.