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Tuesday, September 25, 2007

Revolution Money Launched by Steve Case and Ted Leonsis

Having worked at AOL as a software developer from 1995-2001, I have a great deal of respect for both Steve Case and Ted Leonsis. They've just launched a new venture, Revolution Money. From the blog of Ted Leonsis:
Revolution Money has created the first Web 2.0 payment platform designed for a mainstream consumer audience, especially those who enjoy the convenience of handling their financial affairs and purchasing online. Its technology will enable account holders to do things that no single alternative has been able to do before - fuse all of the expected functions of a traditional offline credit card with a stored value card, and combine it with new online functionality.

Today Revolution Money introduced its first two flagship offerings - Revolution MoneyExchange, the first free money transfer service that powers online transactions, and RevolutionCard, the industry's first anonymous, PIN-protected credit card.
See these Revolution Money sites for more details: Revolution MoneyExchange, RevolutionCard. What are the implications for online payment services like PayPal and Google Checkout? What about the credit card industry? This will certainly be an interesting company to watch.

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