|By Business Wire||
|February 4, 2013 08:11 AM EST||
Virtual Piggy, Inc. (OTCBB: VPIG), an innovator in safe youth payments, today announced the opening of their new European headquarters in London.
Virtual Piggy allows parents to set up a monthly allowance for their children and promotes financial management while empowering Under 18’s to make purchasing, saving and other money management decisions for themselves, within boundaries setup by parents.
Virtual Piggy provides rapid and safe mobile and online transaction capability, allowing merchants to monetize the youth market. Virtual Piggy is integrated with leading commercial eCommerce platforms such as Oracle ATG, Magento from eBay, DemandWare and osCommerce. All major payment gateways including ChasePaymentech, PayVision and WorldPay are supported by the platform and Virtual Piggy’s strategic partnership with PayPal enables adults with PayPal accounts to be able to register at Virtual Piggy with a single click.
General Manager for Virtual Piggy EMEA, Joe Peden, has already added renowned industry expert, Rob Stevenson, as UK Country Manager.
Since its launch, Virtual Piggy has signed up a number of impressive partners in the US who are integrating Virtual Piggy into their eCommerce platforms. These include K’Nex, O’Neill, Fathead, Claire’s Accessories, amongst others. Even before opening in London, Virtual Piggy has signed multiple clients across Europe and the UK, such has been the demand for their youth payment solution.
“Many youth orientated and entertainment companies have their European headquarters in London, and the European online market is simply huge. In the UK the average online spending is 25% of the gross household income," said Peden. “Now with Virtual Piggy, Under 18’s have an easy and safe way to make online purchases.”
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
Safe Harbor Statement
All statements herein other than statements of historical facts are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Such statements are not guarantees of future performance and are subject to known and unknown risks and uncertainties that could cause our actual results to differ materially from those expressed or implied in such forward-looking statements. Such factors include, but are not limited to, our ability to raise additional capital, our limited operating history and revenue, our ability to attract and retain qualified personnel, our dependence on third party developers, our ability to develop new services, market acceptance of our services, legislative, regulatory and competitive developments, enforcement of our intellectual property, general economic conditions, as well as other factors set forth under the caption "Risk Factors" in our Forms 10-K filed with the SEC, and other filings with the SEC.
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