DALLAS, TX and ST. PETERSBURG, FL -- 03/30/09 -- Chase Paymentech, a leading merchant acquirer and payment processor, and Revolution Money Inc., operator of the RevolutionCard(TM) payment network, today announced that Chase Paymentech's state-of-the-art processing platforms now enable the acceptance of RevolutionCard transactions for online and retail merchants. Revolution Money currently operates the largest PIN-based acceptance network for credit card purchase transactions in the U.S.
As one of the world's leading merchant acquirers, Chase Paymentech provides merchant services to many of the world's best known brands, processing an estimated half of all internet transactions. By working with Chase Paymentech, Revolution Money's market position and broad acceptance is solidified with both retail and online merchants.
"This alliance underscores our commitment to providing our merchants with the most competitive payment solutions available," said Diane Donoghue, Executive Vice President and General Manager, Retail Network Services for Chase Paymentech. "Combining our leadership position in the payments industry with the unique capabilities represented by RevolutionCard gives our merchants an extraordinary opportunity to expand the payment choices available to their customers."
By accepting RevolutionCard -- the first PIN-based credit card network for purchases in the U.S. -- merchants can improve their total cost of accepting payments and provide their customers with a new payment method that is both convenient and secure.
"Thanks to our agreement with Chase Paymentech, Revolution Money can now help more merchants improve their payment economics," said Jason Hogg, Founder and CEO, Revolution Money. "RevolutionCard accountholders can take advantage of the great savings and value offers we create with many of their favorite stores and enjoy the highest level of identity theft protection. Chase Paymentech and Revolution Money joining forces is welcomed news for anyone interested in safe and cost-effective commerce."
About Chase Paymentech
Chase Paymentech, a business unit of JPMorgan Chase, is a global leader in payment processing and merchant acquiring, capable of authorizing transactions in more than 130 currencies. The company's proprietary platforms provide access to a wide variety of payment methods, such as credit cards, debit cards, prepaid stored value cards and electronic check processing. Offering secure payment solutions, improving cash-flow management, mitigating risk and accelerating funding -- Chase Paymentech's consultative approach helps today's small and emerging businesses become tomorrow's industry leaders. On the Internet or at the point of sale, Chase Paymentech's unique combination of outstanding service, innovative solutions and financial strength offers solid benefits to companies both large and small. More information can be found at www.chasepaymentech.com.
About Revolution Money Inc.
Revolution Money is a payments company committed to delivering extraordinary value to both merchants and consumers. The RevolutionCard network eliminates costly interchange, providing merchants with enormous cost savings, while consumers gain unparalleled payment flexibility, rewards and protection from identity theft and fraud. Founded in 2005, Revolution Money is a member of the Revolution LLC family of companies. For more information, log on to www.RevolutionMoney.com.
Contacts: James Wester Chase Paymentech 877-843-5631 Email Contact
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