San Diego, CA – November 30, 2009 – Socialwise, Inc. (OTCBB:SCLW) today announced that it has entered into a strategic partnership with Offerpal Media ( www.offerpal.com), the leading provider of virtual currency monetization solutions for more than 160 million users on social networks, online games, and virtual worlds.
The two companies will work together to promote their existing payment solutions, as well as develop new payment programs specifically for the teen and tween market. Offerpal will feature BillMyParents on its proprietary monetization platform as an alternate payment solution alongside Visa, MasterCard, PayPal and others, providing teens and tweens with an easy way to acquire virtual currency across Offerpal’s network of 2,000+ publishers. The virtual currency will be spent on items such as virtual gifts, subscriptions, game-play upgrades, and other virtual goods.
BillMyParents and Offerpal will also collaborate to launch innovative programs that will expand their reach into the teen and tween online payment solutions market. "We plan to create effective solutions by combining the unique attributes of the BillMyParents youth payment system, along with Offerpal’s leading position in online monetization," commented Jim Collas, CEO of Socialwise. "This partnership could take online revenues from the tween and teen market segments to a new level.""BillMyParents has developed the most effective parent-approved payment system on the Web, and we are excited to partner with them to help provide safe, secure payment options for the millions of teens and tweens playing social games across the Offerpal network," said George Garrick, CEO of Offerpal Media.