More merchants to accept RevolutionCard through Chase Paymentech

Chase Paymentech Solutions LLC established the deal with Revolution Money Inc., a St. Petersburg payments firm. Now Chase Paymentech, a business unit of JPMorgan Chase, is accepting RevolutionCard transactions for online and retail merchants. The partnership is aimed at increasing the number of merchants who accept the card. Terms of the agreement were not disclosed.

In an official press release Chase Paymentech reported that it processes about half of all Internet transactions. The release said that the partnership will allow Revolution Money to strengthen its market position and extend the acceptance of its product to more retail and online merchants.

Jason Hogg, founder and chief executive of Revolution Money, said that the agreement with Chase Paymentech helps more merchants improve their payment economics. The company has said that its RevolutionCard credit card and its MoneyExchange online person-to-person money transfer product cost less and provide greater security than better-known brands such as MasterCard, Visa and PayPal.