Revolution Money: Latest online payment service to hit the market

AOL Founder Steve Case has announced his backing for a new online payment service named Revolution Money.

This new service promises that it would enable the users to transfer funds for free. They are also offering RevolutionCard credit card with low fees for merchants.

This facility would be made available through its Revolution MoneyExchange service.

The company faces serious competition from both eBay owned PayPal and a similar service provided by Amazon. Google also has a presence in the market with its Google Checkout service.

AOL added that they are partnering with Revolution Money and would allow AIM members to make payments and fund transfers from the IM client itself.

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