Source: Virtual Piggy
Virtual Piggy, Inc. (VPIG), an innovator in safe youth payments, today announced that it has partnered with the world leading prepaid payments processor, epay, that will help promote its youth-friendly payment system by significantly expanding its online store offerings.
The epay division of Euronet Worldwide (EEFT) is a global prepaid product provider that has a distribution network of over 304,000 retail locations worldwide. epay is the leading electronic payments processor for "tops ups" or mobile prepaid minutes, a popular mobile solution for youth. In the UK, there are 50 million Pay as You Go phones, compared to 30 million contract subscribers, with some people owning several mobiles. epay handles 40% of all mobile "top up" transactions in the UK and 86% within Australia.
Virtual Piggy provides a secure COPPA-compliant solution to allow teens/tweens and their families to purchase and manage gift cards. The Virtual Piggy shop (shop.virtualpiggy.com) currently features over 20 favorite brands including: Zappos, Barnes and Nobles, Domino's, and Regal Theaters at shop.virtualpiggy.com.
"With so many of our top up and gift cards being purchased for use by under 18's, the commercial benefits that Virtual Piggy brings to epay are invaluable," said Joni Shakles, Senior Vendor Manager for epay. "Enabling kids to be able to go online and to purchase these cards themselves, in a parent controlled manner is absolutely revolutionary!"
"This is a huge market that is currently fraught with friction - particularly for the under 18 year olds," said Dr. Jo Webber, CEO and Founder of Virtual Piggy. "Our partnership with epay will deliver a seamless solution that will allow us to service the majority of this $10Bn annual market."