Very interesting and thanks for the heads up.
Looks like they have experienced people to run it, an actual bank to take care of those pesky privacy and legality concerns and it's being backed by Citi, Morgan Stanley and Deutsche Bank?
How will eBay be able to say no, lol?
It would be nice if the Revolution Card's 0.5% Interchange rate forced MasterCard and Visa to lower
their 1.9% rates.
Quote:How will eBay be able to say no, lol?
Easily---the same excuse they use to justify banning Google Checkout:
Quote:Whether the payment service has a substantial historical track record of providing safe and reliable financial and/or banking related services (new services without such a track record generally cannot be promoted on eBay)
http://pages.ebay.com/help/policies/acce...olicy.html
Ditto what the shark said--eBay will definitely say no. Revolution will be a threat to PP's person-to-person business (GC isn't because it doesn't allow p-to-p tranfers) and eBay will definitely fight back.
Revolution MoneyExchange officially launched yesterday:
Quote:Ted Leonsis wants you to pay bills and transfer money online in a new way, with no fees.
The entrepreneur and vice chairman emeritus of AOL has teamed with AOL founder Steve Case in a venture called "Revolution Money," a kind of combination credit/debit card and online payment system. It's a unit of Case's Revolution, which has launched several other companies.
The RevolutionCard launched in September. Revolution MoneyExchange has launched, aiming to take on online payment leader PayPal by offering free money transfers online at revolutionmoney.com...
Revolution's target market is the millions of young people who spend hours online at social networks.
"We want to be to social networking what PayPal is to eBay," says Leonsis, chairman of Revolution Money...
full article:
http://ecommercetimes.com/story/You-Say-...60255.html