Wednesday, June 3, 2009

Socialwise Launches the BillMyParents Payment System to Wide Public Interest and Acclaim

SAN DIEGO--(BUSINESS WIRE)--Last month Socialwise, Inc. (OTCBB:SCLW - News) publicly launched BillMyParents, an innovative online youth payment system that gives teens the freedom to shop online and parents the control over these purchases - all in a simple, automated system that keeps credit card numbers and other personal information safe and secure. In the two weeks since launch, public interest has been strong. A number of major retailers have expressed interest in integrating the service into their online environments, consumers have started signing up for BillMyParents and coverage from the media has been very positive overall.

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What the media is saying about BillMyParents:

  • “As inclined as I am to disparage systems that put the Web in the middle of the parent/child relationship, I actually think this idea works. It doesn't reduce or remove communication in a family, in fact it could increase it. And it makes it easier to mark, track, and purchase online items.” – CNET, May 18, 2009
  • “I like the idea for two big reasons: It creates a paper trail for the things you buy your children - so you'll know pretty quickly how much you're really spending on their "needs" - and it forces the child to justify what he wants, in writing. Rather than letting your kids just whine in a personal audience in front of you, BillMyParents gives you a legitimate outlet to tell them to use to send you a formal request for whatever it is they want, and you'll be able to consider it on your own time. Whining averted.” – Yahoo! Tech, May 21, 2009
  • “If successful, BillMyParents could shift a bigger chunk of that cash to e-commerce sites.” – CNBC Consumer Nation, May 19, 2009
  • “Ah, youth. How free and easy it all seems. Especially after the launch of a new payments system, BillMyParents.” – Reuters, May 18, 2009
  • “On the surface it sounds like an ingenious idea, one that any online vendor should jump on…” – WebProNews, May 18, 2009
  • “Bill My Parents works in a manner that will be familiar to employees of large companies that use online expense tracking systems. Kids will find something they want to buy online, but instead of going through a traditional credit card-based payment system, they click a “bill my parents” button, which sends an email about the potential purchase to a selected parent. If the parent approves the purchase, the parent will be billed for the purchase to his or her own credit card.” – Wall Street Journal Digits Blog, May 19, 2009

About BillMyParents

BillMyParents is the innovative new youth payment system that lets teens and tweens shop online without a credit card, while giving parents the ability to easily track and control their teen’s spending. With a simple email request and approval system, BillMyParents provides the independence young people crave and the control over spending that parents want - while ensuring that credit card numbers and personal information are kept safe and secure. BillMyParents is currently available as a payment system in select online retail environments, in addition to social network, virtual world and online gaming Web sites. BillMyParents is a division of Socialwise (OTCBB:SCLW - News). For more information: