A challenge to PayPal

[img_assist|nid=6992|title=|desc=|link=none|align=left|width=100|height=100]Earlier it was reported that AOL co-founder Steve Case's new company, Revolution, had launched an online payment service. After the introduction of the service some people supposed that Revolution Money could turn an adequate competitor to PayPal.

At the moment Revolution Money has two offerings to their customers. First is RevolutionCard that represents an interchange-free credit card and the second is Revolution MoneyExchange, an online service enabling merchants and consumers to send money instantly, securely and free.

"I think it's fair to say Revolution MoneyExchange competes with PayPal," notes David Cautin, Senior VP and General Manager of Payment Solutions for Revolution Money.

The advantage of the RevolutionCard is that it is an interchange-free card, saving merchants 2 - 4 percent of revenue over Visa and MasterCard or American Express. Since the card incurs lower fees merchants will be likely to actively offer it to their customers. As for Revolution MoneyExchange merchants can benefit from the solution as it enables them to receive payments with zero fees.