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December 14, 2007

Revolution Money Launches Money Exchange - A New Face in Sending Cash

Steve Case's start-up Revolution Money has just released a payment system for Facebook. The new system is called MoneyExchange.

Money Exchange is an application in Facebook that lets you send money with no processing cost. So far Money Exchange is pretty much the same as PayPal, however by using the mega social networking site that Facebook is, Steve Case sees this as a method to enter a very competitive space and become a serious competitor to Paypal. While Money Exchange is not making money by providing this service the money will come via the Revolution Card which is a competitor to Visa and MasterCard.

The Revolution Card is positioned to compete with the well established Visa and MasterCard by under-cutting costs to the consumer making it a very attractive alternative.

Posted by Colin on December 14, 2007 03:35 PM | Permalink | DIGG THIS STORY

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