American Express (AXP)

American Express Company Wednesday announced it has agreed to acquire Revolution Money, a company launched by AOL Co-founder Steve Case's Revolution LLC in 2007 to provides secure payments through an internet based platform.
Interestingly, American Express is buying a nascent competitor that has positioned itself to merchants as a low-cost alternative as Revolution offers PIN-based credit cards that charge merchants a fraction of the typical acceptance cost and free online money transfers.

Nov 18 · 11:58:00 AM · Source: Company News Release
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by Larry Etter