American Express plans to enter the market of money transfers on the Internet

The American Express payment system announced the acquisition of a little -known financial enterprise Revolution Money, the owner of the same payment system of "instant" payments and transfers. The volume of the transaction is 300 million dollars.

Revolution Money was created in 2005 by the founder of the telecommunications American Online Steve Kais.

According to MIGNEWS.ru , American Express, the second largest player in the market for international transfers and credit cards, is primarily interested in the so-called peering system of money transfers Revolution (Peer-to-Peter Service), which allows the transfer of money between private individuals and businesses for minimum commander.

Revolution Money presents users with a system of accounts “from person to person”, which can be used on social networks, as well as like an prepaid debit card.

The company also offers services for transferring money for commercial organizations for the commission several times lower than the commission that international payment systems are charged.

The company has a business on working with legal entities (banks and trade organizations). To replenish accounts in the system, payment cards are issued without names and numbers of accounts, transfers are authorized by a personal code.