Tuesday, March 24, 2009

Bill My Parents (BMP) Ready

Socialwise announced this today:

San Diego, CA – March 24, 2009 - Socialwise, Inc., a wholly owned subsidiary of ideaEDGE, Inc. (OTCBB:IDAE), and developer of integrated e-Commerce payment solutions and social network group gifting platforms, today announced that it has finalized the production version of the company’s BillMyParents payment system, and is poised to "go live" with key e-Commerce partners. Uniquely created by Socialwise, BillMyParents is the safe and secure way to allow children to shop online while parents retain control.

To prepare for launch, Socialwise has completed extensive testing of the BillMyParents youth payment system and related Application Programming Interfaces (APIs) that will be integrated into popular social network applications and online e-Commerce environments. The company is launching with several leading social network application publishers/developers and online web-based casual gaming companies that cater to the teen demographic. Socialwise expects that BMP will be fully integrated with these partners within 60 days.

"We believe that BillMyParents will be a great benefit for kids, and a valuable tool for parents and online merchants, said Jim Collas, CEO of ideaEDGE, Inc. "To date, the BillMyParents concept has been very well received by potential partners in the social networking space and the e-Commerce world. BillMyParents will enable online merchants to capture a piece of the estimated $40 billion in sales transactions that are currently lost because some kids don’t have a payment method for safe and responsible online purchasing. With one solution, BillMyParents meets the needs of all parties in the value chain – with helpful and trusted services for everyone."

Concurrent with planned launch activities, Socialwise is working on continued enhancements to the system. These improvements include adding more security features and enhancing performance, scalability and ease of use, with the goal of establishing BillMyParents as the preferred payment utility for kids and parents.

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