I was trying to buy something from a forum and the guy sent me the information for this revolutionmoneyexchange thing instead of using paypal.
My initial reaction was SCAM, but I did a little research and it seems legit, just in a Beta stage.
Here's my take so far:
New company to compete with Paypal to send money and not charge fees/transaction.
I won't use it because of the SSN requirement (supposedly for FDIC insurance).
So far, no buyer protection element like paypal has. I'll pay a few bucks for that peace of mind (but somewhat inneffective from what I hear)
The fine print says they can collect all your info you give and give it to others, third parties etc (name address, ssn, phone, bank account balances credit info) It's a no-go for me. Sounds like selling lists is how they plan to fund it all.
So anyone use/experience it? Does it really seem worth it?
Of course the guy tried to leverage his paypal fee requirement into the deal, use RME or pay the $X amount + paypal fee to him.
