October 16, 2008
Atlanta, Ga. and St. Petersburg, Fla. - (October 16, 2008 ) -
Revolution Money Inc., creator of the RevolutionCard payment network, and RBS WorldPay (formerly RBS Lynk),
the U.S. payment processing arm of The Royal Bank of Scotland Group, today announced an agreement that enables
RBS WorldPay to offer RevolutionCard as a payment option to its merchants. This agreement extends the RevolutionCard
network to nearly 300,000 online and physical merchantlocations.
In August 2008, RBS WorldPay began processing RevolutionCard’s PIN-based transactions for participating merchants.
Merchants will be charged absolutely no interchange fee and a nominal 0.50% transaction fee – saving them up to 80%
in transaction fees compared to other payment brands. The PIN-based security benefits of the RevolutionCard also help
reduce merchant expenses associated with disputes, chargebacks and unauthorized transactions.
In addition to lowering a merchant’s cost per transaction, and enhancing the scope of both national and local merchants’
selection of electronic payment solutions alike, RBS WorldPay and Revolution Money have joined to provide a first-of-its-kind
Independent Sales Organization (ISO) program that will enable ISOs to offer this new payment vehicle.
“RBS WorldPay is committed to providing the widest array of payment options to its clients,” said Ian Drysdale,
senior vice president of Market Development for RBS WorldPay. “Revolution Money’s groundbreaking solution addresses
two of the paramount concerns for any merchant: reducing the cost of payment acceptance and reducing the incidence of
fraud.”
Jason Hogg, Revolution Money’s Founder and CEO, added, “We’re excited to supply RBS WorldPay’s merchants with
RevolutionCard’s low fees, customer loyalty opportunities and exceptional security features. With the development
of an ISO program, this relationship brings us one step closer to reaching 1 million merchant locations in the U.S.
that accept RevolutionCard.”
About Revolution Money
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 2007, Revolution
Money is a member of the Revolution LLC family. For more information, log on to
www.RevolutionMoney.com.
About RBS WorldPay
RBS WorldPay is a leading, single-source provider of electronic payment processing services – including credit, debit, EBT, checks, gift cards, e-commerce, customer loyalty cards, fleet cards, prepaid cards, ATM processing and cash management services. The U.S. payment processing division of the Royal Bank of Scotland Group plc, RBS WorldPay is a non-bank subsidiary of Citizens Financial Group. For more information, please visit www.rbsworldpay.us.
Media Contacts
RBS WorldPay
800.200.5965, x. 1210
media@rbsworldpay.us
