Virtual Piggy To Provide Parent-Controlled And Approved Online Access Through Xsolla 1 November 2011
Game Publishers Partnered With Xsolla Can Now Transact With the Global Youth Market In A Secure COPPA-Compliant Manner
LOS ANGELES, CA- November 1, 2011
Virtual Piggy, Inc. (OTCBB: VPIG) today announced that they have entered into an agreement to provide the VirtualPiggy service to the gaming community through Xsolla, which provides in-game payment solutions worldwide. This will provide the ability for any online or PC-download game companies partnered with Xsolla to transact with the global youth market in a secure COPPA-compliant manner.
VirtualPiggy gives parents the technology to allow their children to safely make online purchases - without revealing their name or age. Parents can monitor or approve purchases so they remain in control while helping their child to learn about money – the service is free for parents, they simply create a VirtualPiggy account.
Albert Donahue, Vice President and Co-Founder of Xsolla stated:
"The gaming industry continues to target youth for their love of interactive entertainment- working with VirtualPiggy will help parents looking to teach their children financial responsibility and will help our gaming partners to have the opportunity to help parents retain control and ensure that their kids enjoy their games safely,”
“We understand that parents decide how money will be spent with regard to games; by having parents' trust, it will increase payment conversion rates and reduce chargebacks. It's a win-win situation for everyone involved in the process.”
VirtualPiggy will be integrated into the Xsolla in-game monetization framework and will be available to all of Xsolla's partners serving the global youth market.
“Xsolla works with over 300 game publishers- many of these publishers provide high quality online games for the U18 (“under 18”) audience, and we are delighted that Xsolla has chosen VirtualPiggy to provide a parent-controlled e-commerce solution for their youth market,” stated Dr. Jo Webber, Chairman of VirtualPiggy.
About Virtual Piggy:
Virtual Piggy, Inc. delivers a technology platform designed for the management of the Under 18 age group in the global online market. The Virtual Piggy technology enables online businesses to function in a manner consistent with the Children’s Online Privacy Protection Act (“COPPA”) and similar international children’s privacy laws. Virtual Piggy technology enables the Under 18 audience to play, transact and socialize in a secure online environment guided by parental permission, oversight and control. For more information about Virtual Piggy, please visit the Company’s website at: www.virtualpiggy.com
Safe Harbor Statement
All statements in this news release 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. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause our actual results, events or financial position to differ materially and adversely from those expressed in such forward-looking statements. Such factors include, but are not limited to, our ability to raise additional capital, the absence of any operating history or revenue, our ability to attract and retain qualified personnel, our dependence on third party developers who we can not control, our ability to develop and introduce a new service to the market, market acceptance of our services, legislative, regulatory and competitive developments addressing licensing and enforcement of patents and/or intellectual property, general economic conditions, and other factors disclosed in our annual report on Form 10-K for the year ended December 31, 2010 and other filings with the SEC. We undertake no obligation to revise or update any forward-looking statements for any reason.
Media Contact for Virtual Piggy:
Danielle Bastian
info@virtualpiggy.com
(215) 247-5500
Media Contact for Xsolla:
Heather Hudechek
hh@xsolla.com
(818) 435-6613, x. 1055
