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PayPal alternative, Revolution Money Exchange, yes!

Paypal is a great innovation and service and ebay has done a great job of integrating them into their auction checkout system. However, I have always felt that their fees for non-credit card funded transactions were too high. Sure, they should charge something but how much is their buyer and seller "protection" worth? Anyway, this new payment system, Revolution Money Exchange, might be able to give Paypal a run for their money as an alternative for us sellers who think Paypal has been, shall we say, a bit too greedy. At the very least, it might make them reconsider jacking up fees any more.

Best of all for basic transactions, it's FREE!

Revolution Money Exchange

This outfit is backed by Steve Case (AOL co-founder), Larry Summers (former Treasury Secy), and the former CEO's from Schwab and Mastercard.

I hope they get this going. I'd love to tell buyers that insist on using a credit card to go ahead and use Paypal but those that don't could use Revolution. I don't see where they have credit card capability at Revolution but maybe their idea is to penetrate with the FREE service and then add CC later?

Just an FYI for everyone.
Lover of the mutant Buffalo.

Kaleidoscope Coins

Comments

  • RussRuss Posts: 48,515 ✭✭✭


    << <i>but maybe their idea is to penetrate with the FREE service and then add CC later? >>



    Déjà vu.

    Russ, NCNE
  • MacCrimmonMacCrimmon Posts: 7,051 ✭✭✭


    << <i>

    << <i>but maybe their idea is to penetrate with the FREE service and then add CC later? >>



    Déjà vu.

    Russ, NCNE >>



    You left off, "all over again!!"image
  • wayneherndonwayneherndon Posts: 2,346 ✭✭✭
    I don't mind the fees but would like to see some competition to keep the segment fair, innovative and working hard to please and maintain their customers. If you don't like your bank, you can move your account and never miss a beat. With electronic payments the choices are much more limited. The market is big enough for several major players. There's no reason one day this shouldn't be like banks, credit cards, etc. where various providers offer services over a common protocol.

    WH
  • messydeskmessydesk Posts: 19,642 ✭✭✭✭✭
    eBay will forbid mention of it.
  • cmerlo1cmerlo1 Posts: 7,890 ✭✭✭✭✭
    Thanks for the post! I might look at this as another option for our site...
    You Suck! Awarded 6/2008- 1901-O Micro O Morgan, 8/2008- 1878 VAM-123 Morgan, 9/2022 1888-O VAM-1B3 H8 Morgan | Senior Regional Representative- ANACS Coin Grading. Posted opinions on coins are my own, and are not an official ANACS opinion.
  • It's pretty tough for any alternative pay service to cross PayPal's "moat" now that it's part of Ebay. You'll notice that one of the first things Ebay did after the acquisition was to raise fees. But they kept the service free for payers, so the payee still bears those fees. That was a smart business decision. As an Ebay buyer, I have no incentive to use anything other than Paypal because it's free. As a seller, even though I wish my buyers would use a service that's less expensive to me, I have no control over them and no real way to encourage it.

  • greghansengreghansen Posts: 4,301 ✭✭✭
    I read a financial news article where American Express bought this company for 300 Million today. As an alternative to Paypal, it made me wonder if it had been discussed here before. Then I searched and found this OP over 2 years old. Guess they haven't had much market penetration on their own in 2 years. I have never been asked to accept money through them, and had never heard of them until today. Guess it remains to be seen whether AMEX can use their clout to broaden their market penetration.

    Greg Hansen, Melbourne, FL Click here for any current EBAY auctions Multiple "Circle of Trust" transactions over 14 years on forum

  • sinin1sinin1 Posts: 7,500
    someone must have been using it for the bank to spend $300 million on it
  • shorecollshorecoll Posts: 5,445 ✭✭✭✭✭
    I don't know if this has been discussed here, but last month Paypal announced they would offer a flat rate ACH payment for $.50...SOMEDAY. They wouldn't say when it would be available...maybe the day after RevolutionMoney gets fully ramped up.
    ANA-LM, NBS, EAC
  • ziggy29ziggy29 Posts: 18,668 ✭✭✭
    The more eBay and PayPal feel the heat of serious and legitimate competition, the better. These are not easy areas for a new market entrant to grab market share in.
  • derrybderryb Posts: 36,118 ✭✭✭✭✭
    Unfortunately, ebay protection for buyers and sellers depends heavily on ebay's ability to access paypal's database and visa versus. Paypal competitor's will not have this advantage which will probably result in less protection. The biggest plus in using paypal is all the protection. On a 1,500 coin it almost seems worth it. Besides, with all sellers building this cost into their price it ends up a level playing field.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • notwilightnotwilight Posts: 12,864 ✭✭✭


    << <i>Unfortunately, ebay protection for buyers and sellers depends heavily on ebay's ability to access paypal's database and visa versus. Paypal competitor's will not have this advantage which will probably result in less protection. The biggest plus in using paypal is all the protection. On a 1,500 coin it almost seems worth it. Besides, with all sellers building this cost into their price it ends up a level playing field. >>



    Ebay does it this way on purpose. They can be required to share data with other payment systems.---Jerry

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