Financial Times FT.com

AmexCo to buy online payments business

By David Gelles in San Francisco

Published: November 18 2009 23:44 | Last updated: November 18 2009 23:44

American Express on Wednesday said it would purchase Revolution Money, an online payments business set up by former AOL chief Steve Case.

The $300m deal puts American Express, known as the premium credit card provider with the highest fees, in control of an upstart company whose focus has been on reducing costs for merchants and consumers.

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