Revolution Money, the payments corporation baked by Steve Case’s Revolution LLC has today secured major funding from Goldman Sachs affiliate and AOL co-founder Case, Revolution Money Chairman Ted Leonsis, former Charles Schwab CEO David Pottruck, former JP Morgan Vice Chairman David Golden, Citigroup Inc. and Morgan Stanley. The series C funding is up to the tune of $42 million. This will make revolution card tussle it out with some of the biggest credit card companies in the payment market. According to Jason Hogg, founder and CEO of Revolution Money, the funds will be used to improve on the core technology behind Revolution credit card. Revolution Money card will give merchants and consumers will limit the monopoly by traditional high-cost credit card companies and PayPal.
“In one of the toughest funding environments in history, this investment is a big endorsement of Revolution Money’s business model,” stated Jason Hogg, the founder and CEO of Revolution Money.
Revolution Money is a credit card that charges no exchange fees and only a half-percent processing fee per transaction. Revolution Money has continued to attract new members because it offers more flexibility with additional features not present in traditional credit cards. For instance, Revolution credit card is PIN-based. This means no body can use your card if they don’t know your secret PIN. It therefore offers more control and security. Besides, revolution money card bears no personal information about the card holder. Its identity protections limits identity theft, trims down fraudulent charges and lowers risk if your card gets lost or stolen. With ever increasing member, Revolution Card continues to be is accepted in many locations. To date, Revolution credit card is accepted at more than 650,000 merchant locations and nearly 85 percent of all ATMs all over the US.
Founded by Steve Case in 2007, Revolution Money is part of the family of companies within Revolution, LLC, with the aim of driving transformative change by shifting power to consumers. It also has capital funding from Citi, Morgan Stanley and Deutsche Bank. Its current board of directors is Ted Leonsis who is the Chairman and also Vice Chairman, AOL and Owner of Washington Capitals. Steve Case is the Chairman of Revolution LLC and Co-Founder, AOL and Former Chairman of AOL Time Warner. Other Board of directors are; David Golden, David Pottruck, Frank Raines, Larry Summers and Jason Hogg.
Revolution Money is currently used in major stores across the US. You can use your Revolution credit card at ABC Liquors A.J, Wright AutoZone, Barnes& Noble Belk, Bed Bath &Beyond Big any many more. For more locations and stores, visit https://www.revolutioncard.com/.
Whereas Revolution Card seems to enjoy general acceptance, Discover Card, American Express, Visa, MasterCard, Bravo and Diners Club still remain the major credit card companies within the US and beyond.