AmEx to buy payment firm
Times Wire Reports
American Express Co. is buying Revolution Money for about $300 million to keep up with trends in electronic payments.
The deal pairs American Express, a credit card provider tracing its roots to 1850, with a 4-year-old start-up.
Revolution Money, based in St. Petersburg, Fla., offers payments authorized at checkout counters with a personal identification number. About 1 million merchants participate in the service.
Revolution also offers MoneyExchange, a person-to-person service to send and receive money.
