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American Express (s axp), the company well known for overpriced charge cards, is buying Ted Leonsis and Steve Case’s Revolution Money for $300 million. Leonsis shared this information on his blog. Amex wants to use Revolution Money to build a next-generation offering. Revolution Money has some kind of a next-generation payments technology that brings together offline and online worlds; it’s part of the Revolution group of companies floated by Steve Case. No one I know has either seen it or actually uses it. If there is one company that is going to do offline-online payments, that will be PayPal (s ebay).
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best article on the day on the subject: http://insights.tracked.com/2009/11/american-express-revolution-money/
Supposedly amex is also funding ProSmoke electronic cigarettes. Check them out at http://www.ProSmokeStore.com
The Revolution Card is being pushed really hard at Wal-Mart gas stations.
How is Amex overpriced?
I think the “paypal for on-line gambling” (aka, neteller) actually allows online-offline payments.
haha… always count on porn and gambling to come up with great working models/concepts and execute on them.