October 20, 2009
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News: It's A Revolution!
It's a revolution! Its aim is to overthrow the credit card industry with a new alternative to traditional cards that put customers at risk for fraud. The new credit card called RevolutionCard uses a personal identification number (PIN) rather than the customer's signature to activate approval. The card offers greater rewards and greater protection from credit card and identity theft. The RevolutionCard is offered by the St. Petersburg, Florida based firm Revolution Money that developed the innovative payment processing system that is integrated into a low cost payment card network. The Revolution Money joins with hundreds of merchants to offer a variety of in store and online incentives to customers when using the RevolutionCard.
Unlike the traditional credit card, the RevolutionCard is printed without any personal information giving added security protection if an individual should lose and have his card stolen. The card thief would have to have access to the PIN number in order to use the stolen card. Fifth Third Bank has recently formed an agreement with Revolution Money as a RevolutionCard issuer. The new partnership is the most significant move for Revolution Money which was launched in 2005 by Steve Case, the co-founder of America Online. In a press release, Jason Hogg, founder and Chief Executive Officer of the company noted excitement about the new credit card alliance and stated that it will provide a "robust platform" for future endeavors.
Revolution Money also offers an alternative to the credit card called the MoneyExchange. The MoneyExchange functions on the level of a debit or ATM card that has a "no fee" policy for all money exchanges between stores and accounts. Merchants, especially convenience store chains like 7-Eleven, are currently raging a strong battle against MasterCard and Visa regarding high interchange fees. The absence of interchange fees makes the RevolutionCard very appealing to merchants. An impressive list of merchants accept the RevolutionCard including Bed Bath and Beyond, Barnes and Noble, TJ Maxx, and Kohl's Department Stores. Additional information on Revolution Money and the growing list of merchants who accept the card can be located at www.revolutioncard.com.