ATLANTA and ST. PETERSBURG, Fla., Oct. 16 /PRNewswire/ -- 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 merchant locations.
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."
