Revolution Money had three products: RevolutionCard credit card, Revolution MoneyExchange which provides free online money transfers between members, and RevolutionGift, a gift card. Revolution MoneyExchange accounts were issued by First Bank and Trust.[3]
Backgroundedit
Revolution MoneyExchange was an online bank intended as an alternative to PayPal and its chief competitor, Google Checkout. It was founded as GratisCard in April 2007.[4]Ted Leonsis and Steve Case were on its board of directors.[5] Revolution MoneyExchange was backed by Citi, Morgan Stanley, and Deutsche Bank AG, as well as its parent company, Revolution LLC.[6]
There were no fees charged for online transfers between accounts. The Revolution MoneyExchange Card was a stored-value card that allowed account holders to access their funds for purchases at merchant locations on the RevolutionCard network and for cash withdrawals at ATMs nationwide.[7]
RevolutionGift was a prepaid PIN based gift card with no account number printed on the card. Other features included the capacity to send money via AOL Instant Messenger.[8]
On November 18, 2009, American Express announced that it would acquire Revolution Money for US$500 million, and finally did for US$300 million.[9] Revolution MoneyExchange was purchased by American Express in January 2010, and was renamed Serve Virtual Enterprises, Inc. Serve Enterprises then launched Serve and discontinued Revolution MoneyExchange on March 28, 2011.
"Revolution Money Aims for 1 Million Merchants, Cardholders by Year End".[dead YouTube link]
Burnsed, Brian (June 20, 2008). . BusinessWeek. Archived from the original on June 21, 2008. Retrieved 2008-07-22.
Gonsalves, Antone (November 8, 2007). "Revolution Online Money Transfer Service Pits Itself Against PayPal. The company is marketing its new RevolutionCard credit card payment service as a more secure option to traditional credit cards from MasterCard or Visa". InformationWeek. Retrieved 2008-07-22.
Cauley, Leslie (2007-09-23). "Account number, name not on this credit card". USA Today. Retrieved 2008-07-22.
Manning, Margie (August 17, 2007). "St. Petersburg credit card company launches a Revolution". Tampa Bay Business Journal. Retrieved 2008-07-22.
Hundley, Kris (October 27, 2007). "Get ready for credit card 2.0. The name of the St. Petersburg company sums it up, say the founders of Revolution Money". St. Petersburg Times. Retrieved 2008-07-22.
"AOL co-founder backs new online payment firm". The Washington Post. 2007-09-25. Retrieved 2008-07-22.
Regan, Keith (January 9, 2008). "A Host of Hot Niches on the E-Commerce VC Trail". E-Commerce Times. Retrieved 2008-07-22.
April 12, 2024
revolution, money, this, article, multiple, issues, please, help, improve, discuss, these, issues, talk, page, learn, when, remove, these, template, messages, this, article, reads, like, press, release, news, article, largely, based, routine, coverage, please,. This article has multiple issues Please help improve it or discuss these issues on the talk page Learn how and when to remove these template messages This article reads like a press release or a news article and may be largely based on routine coverage Please help improve this article and add independent sources July 2017 A major contributor to this article appears to have a close connection with its subject It may require cleanup to comply with Wikipedia s content policies particularly neutral point of view Please discuss further on the talk page October 2016 Learn how and when to remove this template message Learn how and when to remove this template message Revolution Money was a financial services company based in St Petersburg Florida 1 The company s products included a PIN based credit card online person to person payments service with a linked stored value card and gift card Revolution Money was created as the only credit card that did not charge retailers interchange fees 2 The company partnered with Yahoo Sports and Fifth Third Bank Revolution Money Inc Company typePrivateIndustryFinancial servicesFoundedApril 2007HeadquartersSt Petersburg FloridaKey peopleJason J Hogg Founder amp CEO Dax Cummings COO Stephanie Fierman CMO Nick Johns General Counsel Darren Thompson CFOProductsPayment systemsParentAmerican ExpressWebsitewww revolutionmoney comRevolution Money had three products RevolutionCard credit card Revolution MoneyExchange which provides free online money transfers between members and RevolutionGift a gift card Revolution MoneyExchange accounts were issued by First Bank and Trust 3 Background editRevolution MoneyExchange was an online bank intended as an alternative to PayPal and its chief competitor Google Checkout It was founded as GratisCard in April 2007 4 Ted Leonsis and Steve Case were on its board of directors 5 Revolution MoneyExchange was backed by Citi Morgan Stanley and Deutsche Bank AG as well as its parent company Revolution LLC 6 There were no fees charged for online transfers between accounts The Revolution MoneyExchange Card was a stored value card that allowed account holders to access their funds for purchases at merchant locations on the RevolutionCard network and for cash withdrawals at ATMs nationwide 7 RevolutionGift was a prepaid PIN based gift card with no account number printed on the card Other features included the capacity to send money via AOL Instant Messenger 8 On November 18 2009 American Express announced that it would acquire Revolution Money for US 500 million and finally did for US 300 million 9 Revolution MoneyExchange was purchased by American Express in January 2010 and was renamed Serve Virtual Enterprises Inc Serve Enterprises then launched Serve and discontinued Revolution MoneyExchange on March 28 2011 References edit https www revolutioncard com WebSite about us aspx permanent dead link Clark Emily 12 October 2007 Revolution Money offered online payment alternative Newatlas com Retrieved 16 January 2017 Manning Margie St Petersburg credit card company launches a Revolution Bizjournals com Retrieved 16 January 2017 Revolution Money Exchange Geek News Net 2008 02 10 Archived from the original on 2008 08 27 Retrieved 2008 07 15 Small Correction Ted s Take 2008 02 11 Archived from the original on 2011 07 07 Retrieved 2008 07 15 Revolution MoneyExchange New Person to Person Payment System and 25 Bonus Promotion MyMoneyBlog 2008 01 31 Retrieved 2008 07 15 Graham Jefferson Talkin bout a Revolution in transferring money online Usatoday com Retrieved 16 January 2017 You ve Got Payments AOL Founder Backs P to P Start Up PDF American Banker 2007 09 25 Retrieved 2008 07 15 permanent dead link American Express to buy Revolution Money for 300M Yahoo Finance Archived from the original on 2009 11 22 Retrieved 2017 01 17 External links editSquires Paula June 1 2008 Steve Case searches for another iconic brand Virginia Business Retrieved 2008 07 22 Revolution Money Formerly GratisCard Payments News Retrieved 2008 07 22 Revolutionary Money Upstart Challenges the Credit Card Industry Portfolio com 2008 07 01 Retrieved 2008 07 22 Revolution Money Aims for 1 Million Merchants Cardholders by Year End dead YouTube link Burnsed Brian June 20 2008 Top News To Save Money at the Gas Pump Pay Cash Filling stations are offering a 6 a gallon discount for cash customers to incentivize the use of cash cutting back on hefty credit card fees BusinessWeek Archived from the original on June 21 2008 Retrieved 2008 07 22 Gonsalves Antone November 8 2007 Revolution Online Money Transfer Service Pits Itself Against PayPal The company is marketing its new RevolutionCard credit card payment service as a more secure option to traditional credit cards from MasterCard or Visa InformationWeek Retrieved 2008 07 22 Cauley Leslie 2007 09 23 Account number name not on this credit card USA Today Retrieved 2008 07 22 Manning Margie August 17 2007 St Petersburg credit card company launches a Revolution Tampa Bay Business Journal Retrieved 2008 07 22 Hundley Kris October 27 2007 Get ready for credit card 2 0 The name of the St Petersburg company sums it up say the founders of Revolution Money St Petersburg Times Retrieved 2008 07 22 AOL co founder backs new online payment firm The Washington Post 2007 09 25 Retrieved 2008 07 22 Regan Keith January 9 2008 A Host of Hot Niches on the E Commerce VC Trail E Commerce Times Retrieved 2008 07 22 Retrieved from https en wikipedia org w index php title Revolution Money amp oldid 1172655079, wikipedia, wiki, book, books, library,
