Yesterday American Express announced that they will buy the St. Petersburg, FL company Revolution Money for $300 million. Revolution Money is a 4 year old company that offers credit card like cards that bear no cardholder name on the card, no signature on the card, and no number on the card.
Revolution credit cards are ideal for preventing identity theft and all that is required to process the payment is a pin number. Currently about 1 million merchants accept the Revolution cards as payment and with this American Express acquisition announcement it seems likely that the number could significantly increase.
Another popular product offered by Revolution Money is Revolution MoneyExchange which allows money to be transferred between friends and family very easily via different online methods. This acquisition by American Express is interesting because it highlights just how different credit cards and methods or purchasing could become in the years to come. While today there is a fairly straightforward answer to the question, “What is a credit card?” in the ever increasingly connected future the term credit card may come to mean many different things.
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