|By Business Wire||
|February 12, 2013 03:00 AM EST||
Virtual Piggy, Inc. (OTCBB: VPIG), an innovator in safe youth payments, today announced that it will provide its youth-friendly payment system to Digital Stores.
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.
Digital Stores provides eCommerce services for EMI and Universal Music Group and are the UK’s leading direct-to-fan ecommerce site for artists, labels and brands. Digital Stores operates over 60 ecommerce stores including the official global ecommerce site for One Direction, the official music store for Kylie and the official European store for the Beatles.
“Online eCommerce is, as we all know, impacting classical high street stores, as we have already seen several times this year. However, unless online merchants can successfully tap into the youth market, eCommerce could actually exclude young consumers. For Digital Stores, this is a major consumer group,” said Russel Coultart, Chief Executive of Digital Stores. “Virtual Piggy offers us a complete solution to youth monetization, and we are very excited to integrate their technology.”
“Digital Stores provide the online stores and eCommerce for so many fantastic youth-orientated brands including Aardman productions, Hit Entertainment and artists such as Kylie, One Direction and Emeli Sandé,” said Joe Peden, General Manager EMEA of Virtual Piggy. “They are a perfect partner for Virtual Piggy as we expand our business into Europe.”
For information about Virtual Piggy visit www.VirtualPiggy.com
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 18 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 18 audience to play, transact and socialize in a secure online environment guided by parental permission, oversight and control. The company is based in Los Angeles, CA and London, UK and can be found 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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