HERMOSA BEACH, CA – December 10 2012 – Virtual Piggy, Inc. (OTC:VPIG) today announced that it has entered into a Strategic Partnership with WorldPay facilitating further expansion of the Virtual Piggy eCommerce service in the international marketplace.
Virtual Piggy allows parents to set up a monthly allowance for their children and promotes financial management, while empowering youth under 21 to make purchasing, saving and other money management decisions for themselves, within the boundaries setup by parents. Since its inception, Virtual Piggy has been designed to support transactions in over 100 different currencies.
WorldPay is the largest merchant acquirer in Europe and one of the largest globally, operating in more than forty countries, 120 transaction currencies and fourteen settlement currencies. Significantly WorldPay also supports more than 200 alternative payment solutions to eCommerce merchants worldwide.
“International expansion is a key focus for Virtual Piggy in the upcoming year,” said Dr. Jo Webber, CEO and Founder of Virtual Piggy. "Our partnership with WorldPay will ensure that the complex details of international payment preferences are addressed by our combined alternative payment and currency support.”
Phillip McGriskin, chief product officer, WorldPay said, “The eCommerce landscape is increasingly cross-border as consumers become accustomed to purchasing from merchants abroad. One of our strengths is providing merchants with the ability to process alternative payment types in multiple geographies. The under eighteen market represents the future of online shoppers and this group is increasingly willing to embrace the cross-border trend. The partnership with WorldPay and Virtual Piggy enables merchants to serve this market in a COPPA compliant way and maximize the revenue generating potential this offers.”
About Virtual Piggy, Inc.
Virtual Piggy, Inc. is the first e-commerce solution that enables kids to manage and spend money within a parent-controlled environment. The technology company delivers online security platforms designed for the Under 21 age group in the global online market, and also enables online businesses the ability to function in a manner consistent with the Children’s Online Privacy Protection Act (“COPPA”) and similar international children’s privacy laws. Virtual Piggy enables the Under 21 audience to play, transact and socialize in a secure online environment guided by parental permission, oversight and control. The company is based in Hermosa Beach, CA and on the Web at: www.virtualpiggy.com
WorldPay is a leading global provider of payment and risk services, processing millions of transactions every day. WorldPay is a unification of seven leading retail payment solutions and offers a range of services including acquiring, gateway, alternative payments, risk management, and mobile payments. WorldPay became an independent company in December 2010. www.worldpay.com
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