What is the Revolution Money Exchange?

Revolution Money Exchange is trying to place itself as a viable alternative to money processing companies like PayPal. One immediate advantage stands out right form the start - no fees if both parties are Money Exchange members. I can see that being a huge selling point in trying to woo business away from established sites that charge excessive fees, like PayPal.

Money Exchange assures customers that it fully insures its funds. It also lists a large number of free transactions, only charging fees for transaction involving paper (like check transfers or paper statements) The list of free services includes:

* register for an account
* add money to your bank account
* send money
* receive money
* request money
* transfer money to your bank account

Launched in 2007, a new payment network – Revolution Money – was created to deliver significant value to both consumers and merchants through two products, RevolutionCard and RevolutionMoneyExchange. The RevolutionCard eliminates costly interchange fees for merchants while simultaneously providing consumers with enhanced PIN-based security, identity protection, and periodic merchant discounts and incentives. MoneyExchange offers an easy and secure way to send and receive money online between accountholders for free. The accounts are issued by First Bank & Trust, Brookings, SD, Member FDIC and part of the Fishback Financial Corporation. These products are leading the transformation of the payment industry by providing secure, easy, and instant payment solutions to everyone.

Revolution Money is based in St. Petersburg, FL and is part of the family of companies within Revolution, LLC, which was founded by Steve Case to drive transformative change by shifting power to consumers.

With series B venture capital funding from Citi, Morgan Stanley, Deutsche Bank, Revolution LLC, and a world-class Board of Directors, Revolution Money has strong financial resources and leadership to compete and grow.
Board of Directors

Ted Leonsis,
Chairman


Vice Chairman, AOL; Owner, Washington Capitals

Steve Case


Chairman, Revolution LLC; Co-Founder, AOL; Former Chairman, AOL Time Warner

David Golden


CFO, Revolution LLC; Former Vice Chairman, J.P. Morgan

Russell E. Hogg

Former President &CEO, MasterCard International, Inc.

David Pottruck


Chairman, Eos Airlines; Former CEO, Charles Schwab

Frank Raines


Former Chairman & CEO, Fannie Mae; Previously head of OMB

Larry Summers


Former Secretary of Treasury; Former President, Harvard University

Jason Hogg


Founder, President and CEO, Revolution Money