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American Express (AXP -0.5%) says it's buying e-payment startup Revolution Money for about...

American Express (AXP -0.5%) says it's buying e-payment startup Revolution Money for about $300M. Revolution's PIN-activated credit cards cost merchants a fraction of the typical acceptance cost, and offer free online money transfers, a threat to eBay's (EBAY) PayPal. "While Revolution Money is a young and relatively small company, we believe it has big potential," AXP says.
Comments (1)
  • tripleblack
    , contributor
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    Smart move to start competing in the PayPal space, but one has to be curious as to whether the purchase of such a young, small player will meet AXP's needs. Just the movement in that direction, however, has to be viewed as a positive.
    18 Nov 2009, 09:44 AM Reply Like
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