Since our announcement that American Express is acquiring Revolution Money, I have received more than 500 congratulatory emails and seen more than 300 articles on the web. Many partners have reached out to us to do work together.
I must communicate that this merger is NOT completed. We await regulatory approvals and until then we are operating Revolution Money as an independent and stand alone company.
We did make positive news though. This proposed combination of talent and infrastructure will focus on making the online payments space much more competitive.
I also truly believe that we are seeing a gigantic switch in consumer habits. Older consumers got a piece of plastic - a charge card or a credit card - and then were pushed to websites to transact, check balances, manage reward programs and connect with their money. For the most part each of these applications was based on stand alone systems.
The new consumer who lives his/her life on the net will start the march to integrated payments online. First by getting their allowance at school electronically; paying for goods via debit cards; paying for virtual goods online; and then they will get an associated piece of plastic that can be a credit card; a prepaid re-loadable card; or they can get their cash out from ATM machines via an ATM card all integrated into one piece of plastic. They also use their mobile devices as their always on connection device and mobile payments will become critically important in the future. At Revolution Money we have built a platform for all of these applications and we are incredibly safe and secure - no name, no number and no signature on the card – as there is encryption everywhere in the platform.
This is an exciting time in digital payments. See these articles within by clicking here.
I am so grateful that we have built a low cost, highly scalable platform to fit the needs of the new consumer. We built the first integrated online and offline payments platform.
Next week is the Thanksgiving holiday. We have a lot to be thankful for and this proposed merger will be great for online consumers and merchants. And I am hopeful for both American Express and Revolution Money employees and customers, too.
Congrats Ted!!
Hope all goes smooth in the follow through, over-site, and closing. At point ready to launch several online stores offering items for sale over the web, so learning all these payment options; shopping carts, looking at web-services stores like godaddy.com; where register domains.
Will first try godaddy’s quick shopping cart first. About $13.95 per month; includes web store total design application and tools, instructions,(intuitive I know; most important part though ;-j, shopping cart, then configure payment options; the cards; the options and what are not options, shipping etc.
I like the sound of a more competitive, new options and models payment marketplace ;-j
I’m a little surprised papal such a big part of the pie as far as options for merchants to offer purchasers to pay; if for no other reason that it seems like paypal pretty much the same think it was a decade or more ago; must say I rarely use the service.
Last use of paypal? To purchase Washington CAPITALS playoff tix; couple times from guy in Nevada; couple times after game had already started; paypal then email; print tix off i go ;-j
PS; does or does not paypal owe it’s continued success and strength in the marketplace and maybe even existence to it’s adoption as ubiquitous payservice for Ebay?
Here I see interesting relationship of symbioses two separate web enterprises; each enabling the other; one coming to sustain and ensure survival of the other; much like the Clown Fish and Sea Anemone ;-j
See great opportunity for these type of relationships in future; like a services company proving a needed tool to a larger web enterprise; in some cases not unlike outsourcing. If you become the X web service provider for Y fortune 500 company; more 500′s use you; countless others and individuals and groups; congratulations. You get to stay ;-j
What if design and launch a payment transfer web enterprise which delivers options and services at the level of paypal; include a few innovative others; model the whole web presence and customer experience after social networking application. Not profiles; widgets; just little, nice, aesthetically additive widget; very minimizable; expandable and shareable widget.
The actual logistics reduced significantly. Like the guy in Nevada replies to my e-mail from his community site posting with an e-mail including this widget. I am active with the service; I have my own little personalized widget. I click one entry field; type a identifier; tab; type another identifier ; on his widget just sent me; tab to third entry field; enter amount. click send; widget minimizes to tiny size and goes to a corner ;-j
Also; what if jointed partnered at a point with Facebook to have that company integrate, promote and offer. your web payment service based entirely on widgets. This could come after effort to establish as ubiquitous FB user’s service of choice.
(This went from; what-if? to “I probably should not just post this one; keep to self. But I’ve already got enough models and goals and plans to last the rest of my life. I don’t need anymore. Besides; this is not what I love to do; for me to launch this company would be BASS ACKWARDS ;-j Thank you Ted, Jeff