|Acquired by||American Express|
|Series B, 9/07 |
|Series C, 4/09 |
Revolution Money is a financial services company with the goal of disrupting incumbent credit companies and PayPal. Revolution Money’s credit card, the RevolutionCard, differs from other credit cards by using PIN-activation, rather than signatures This allows the card to be printed without any personally identifying information, which the company claims helps to reduce identity theft. The card transactions are also processed on an internet-based system, allowing the company to drastically reduce its processing fees. Revolution Money’s other main service is MoneyExchange, which pretty much does what one would think – let users transfer money between one another – but, uniquely, a MoneyExchange account holders can use a Revolution Money Debit/ATM card so money can be accessed at stores or withdrawn from ATMs. Transfers between Revolution Money account holders are free.
Revolution Money is partially owned by Revolution, LLC, an investment firm and holding company owned by AOL-founder Steve Case. The company’s board also boasts an impressive number of financial luminaries, including Lawrence Summers, former US Secretary of the Treasury; Franklin Raines, former CEO of Fannie Mae; Russell Hogg, former President and CEO of MasterCard; David Pottruck, former CEO of Charles Schwab; and David Golden, former Vice Chairman of JPMorgan.
|Tags||moneytransfer, moneyexchange, money-transfer|