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Revolutionmoneyexchange.com; new competitor to Paypal

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lvnv
9/24/07 8:23 AM
Go to Revolutionmoneyexchange.com. It looks like they are going to take on Paypal. It is free to receive and send money. They are in beta, so sign up to be notified when they go live.

I heard about them from a story in the money section of usatoday.com. The story is about thier credit card that doesn't have an account number or name on it. link
Moderator Comment: This thread has been placed under moderation for referral begging. Please respect FatWallet forum rules by not participating in this behavior. Thanks! — Feb. 7, 2008 @ 7:33am
WikiPost
9/24/07 8:23 AM
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Terms & Conditions for the $25 Sign Up bonus
$25 sign up bonus is only available for first-time Revolution MoneyExchange accountholders, and will be paid only once to any individual.
bozo007
9/24/07 8:30 AM
And how do they make money?
asdf9876
9/24/07 8:32 AM
lvnv said:

Go to Revolutionmoneyexchange.com. It looks like they are going to take on Paypal. It is free to receive and send money. They are in beta, so sign up to be notified when they go live.



I predict failure simply because the name is too long.
zoym
9/24/07 8:33 AM
too long name... revolutionary name?

Revolutionmoneyexchange.com
SlimTim
9/24/07 8:46 AM
bozo007 said:

And how do they make money?



Volume!

Sorry, I can't ever let that one slide.
kamalktk
9/24/07 8:56 AM
bozo007 said:

And how do they make money?


Making money is old fashioned. I'm sure the business plan is "be bought out", that's the web 2.0 biz plan.
slc39
9/24/07 9:22 AM
I'm guessing you won't be able to send money from credit cards, only bank accounts.

They had an article on Revolution money in USA Today (article here). It's a separate credit card network (like Visa and Mastercard are card networks), but the fees are a lot lower -> 0.5% versus VS/MC's 2.3%. They've got around 100000 merchants signed up, so it's still in it's baby stages, but they've gotten big names like Barnes and Noble, so who knows.

In terms of how they make money --> lower overhead costs to send money to/from bank accounts versus credit cards, interest on the "float" if you leave money in the account, and like kamalktk says, get big enough to be bought out.
Trinidon2k
9/24/07 9:39 AM
asdf9876 said:



I predict failure simply because the name is too long.



LOL...I was thinking the same thing
I can't trust anything with that long of a name...like freecreditreport.com
VagrTiger
9/24/07 11:15 AM
I think Revolution Money/Revolution Card deserve a thread. As a new payment network they will have to promote their product heavily by throwing all kinds of freebies. Don't we all love freebies?
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