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Viva la Revolucion November 29, 2007

Posted by goodmind in Subtraction.
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We suppose stranger things have happened, but who could concieve that the very men who brought us AOL would eventually provide a much needed update to the traditional payments industry business structure.  Word on the street is that the RevolutionCard better reflects consumer credit card use in online transactions.  Long live chairman Case!

It’s a simple case of Subtraction to be sure.  Revolution Money Inc has removed the name and account number from the physical card, a move that increases security and minimizes the risk of identity theft.  The RevolutionCard is PIN based, so a lost or stolen card is pretty much useless. 

Removing sensitive information from a credit card is a step in the right direction and accurately reflects consumer reality.  Yet the RevolutionCard also wisely accounts for the economic reality of the retail industry.  Subtraction can be applied to create a powerful incentive for merchant adoption, minimizing a harmful convention of the payments industry; the interchange fee

Charging a mere .5%  per transaction, compared to the industry average of 3-5%,  will help promote widespread acceptance of the RevolutionCard by merchants.   A lower interchange fee increases profit margins, and accepting the card requires no initial infrastructural investment. 

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