SAN DIEGO--(BUSINESS WIRE)--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.



About Offerpal Media



Offerpal Media is the leader in virtual currency monetization for online games, virtual worlds and social networks. The company's turnkey payment platform gives consumers the opportunity to earn or buy virtual currency by completing targeted advertising offers or by purchasing it through direct, global payment options. Since its launch in 2007, Offerpal has issued more than 725 billion virtual points to more than 160 million consumers across 2,000 publishers. The company is headquartered in Fremont, California. Investors include Interwest Capital, North Bridge Venture Partners, and D. E. Shaw Ventures. For more information, visit www.offerpalmedia.com.



About BillMyParents



BillMyParents is an innovative 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 spending. With a simple email request and approval, BillMyParents allows for 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 for online retail, social network, and online gaming Web sites. BillMyParents is offered by Socialwise, Inc. For more information: www.billmyparents.com.

About Socialwise, Inc.

Socialwise™, Inc. (OTCBB:SCLW) is headquartered in San Diego, CA. For more information: www.socialwise.com.

Certain statements contained in this press release are "forward-looking statements" within the meaning of federal securities laws, including, without limitation, anything relating or referring to future financial results and planned business activities. Such statements are inherently subject to risks and uncertainties, which include, without limitation, those in Company reports filed with the SEC. The Company can give no assurance that such expectations will prove correct. Future events and actual results could differ materially from those statements.

 

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