BillMyParents Goes Live with gPotato and Artix Entertainment

San Diego, CA – August 16, 2009 – Socialwise, Inc. (OTCBB:SCLW) today announced that its BillMyParents youth payment system has launched with the first two of five previously announced youth gaming partners. BillMyParents is going live with Artix Entertainment’s AdventureQuest Worlds (www.AQ.com), one of several web-based games owned by Artix Entertainment, and Gala-Net’s gPotato online games portal (www.gpotato.com). This marks the first time BillMyParents is available on third party sites. BillMyParents also expects to launch with Habbo, Outspark, and other yet-to-be announced online youth gaming sites in the near future. This launch with two significant youth gaming partners marks the beginning of the company’s multi-phased plan to quickly build a user base across multiple markets and establish BillMyParents as the leading youth payment system.

BillMyParents is now available to millions of gamers who play on Gala-Net’s gPotato online games and Artix Entertainment’s AdventureQuest Worlds. Teens and tweens can use BillMyParents to purchase virtual goods and virtual currency for game play upgrades inside Gala-Net’s gPotato online game portal and Artix Entertainment’s AdventureQuest Worlds’ virtual game worlds. The innovative BillMyParents payment system makes purchasing items an extremely simple process. Once a player has made their selection, BillMyParents sends an email notification to their parent, requesting approval of the purchase and completion of the transaction. The parent then has the option to deny their child’s request or to use a built-in chat function to ask for more information before making a final decision. To complete the transaction, the parent simply enters their payment information. The whole process can be completed within minutes without the teen ever gaining access to sensitive credit card details or other personal information.

“This aggressive drive into the youth gaming market is the beginning of our multi-phase plan to quickly build a user base, which can be leveraged across multiple markets,” commented Jim Collas, CEO of Socialwise. “Launching with Gala-Net and Artix Entertainment is a key step that builds on our long term strategy to become the most convenient and secure payment option for youth oriented online games. This is the first of several integrations planned in the coming weeks with other partners that will expose BillMyParents to a large number of teens and tweens in the online gaming space.”

SCLW- Penny Stocks - Reuters Blog

May 18th, 2009

“Don’t look at me, I’m just a kid — bill my parents!”

Posted by: Alexandria Sage

Tags: Shop Talk, Amazon.com, artix, billmyparents, google checkout, payments, paypal, teens, video games

Ah, youth. How free and easy it all seems. Especially after the launch of a new payments system, BillMyParents.

The system geared to teens and tweens — who ideally have good relationships with their hopefully indulgent parents — allows parents to approve purchases coveted by their kids and foot the bill.

The idea of the youth payment system is to capture some of the $40 billion spent by kids who end up shopping at traditional retailers only because without a credit card, they have no way to pay for stuff online, says the company’s chief executive, Jim Collas. Collas is the former chief technology officer for PC maker Gateway.

Whereas consumers have a host of options in online payments systems, including eBay’s PayPal, Google Checkout and Checkout with Amazon, Collas says his system is the most convenient for parents and teens.

Parents pay 50 cents per total transaction after they approve and pay for their kids’ shopping lists that are automatically sent to them via email or text, and merchants pay a percentage to BillMyParents.

Currently, BillMyParents is powered by Amazon.com with Amazon’s shopping cart integrated into the website. Kids can access the entire inventory of the global online retailer.

BillMyParents, which is owned by Socialwise Inc, plans to have up to a dozen more retailers participating within nine months and the ultimate goal is for the BillMyParents payment button to be integrated into the online retailers’ websites.

Besides the retail angle, Collas sees a huge opportunity in the gaming world, which allows kids to buy virtual goods online — a market estimated at over $1 billion — as they play their favorite video games.