Virtual Piggy Signs Major Action Sports Retailer
Active signs agreement to integrate Virtual Piggy service
HERMOSA BEACH, Calif.--(BUSINESS WIRE)-- Virtual Piggy, Inc. (OTCBB: VPIG) announced today that it has signed an agreement with Active Ride Shop, bringing its safe youth payments technology to their online store.
Virtual Piggy allows parents to set up a monthly allowance for their children and promotes financial management while empowering U21s to make purchasing, saving and other money management decisions for themselves, within the boundaries setup by their parents.
Active is a major retailer in the action sport industry retailing clothing, footwear, skate and snow equipment from over 150 leading brands including; Nike, Hurley, Vans, Element, Volcom, Adidas, Oakley, Von Zipper, Burton and Billabong.
"We are excited to add Virtual Piggy to our ecommerce infrastructure," said Alan Kaufman, eCommerce Manager at Active Ride Shop. "Our website is an integral part of our business operations and Virtual Piggy will enable our customers to safely make the purchases they want, while keeping parents in control."
"Active Ride Shop is a great addition to our action sports offerings," said Virtual Piggy Founder and CEO Dr. Jo Webber. "We expect their huge selection of quality skateboards, snowboards and apparel will be a big hit with our customers."
About Virtual Piggy, Inc.
Virtual Piggy, Inc. is the first e-commerce solution that enables kids to manage and spend money within a parent-controlled environment. The technology company delivers online security platforms designed for the Under 21 age group in the global online market, and also enables online businesses the ability to function in a manner consistent with the Children's Online Privacy Protection Act ("COPPA") and similar international children's privacy laws. Virtual Piggy enables the Under 21 audience to play, transact and socialize in a secure online environment guided by parental permission, oversight and control. The company is based in Hermosa Beach, CA and on the Web at: www.virtualpiggy.com
About Active Ride Shop
Active Ride Shop has proudly served the North American skate community since 1999. Owned and operated by skateboarders for the benefit of all who skate. Active carries only the finest in footwear, apparel, skate goods and accessories.
Safe Harbor Statement
All statements in this news release other than statements of historical facts are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. Such statements are not guarantees of future performance or events and are subject to known and unknown risks and uncertainties that could cause our actual results, events or financial position to differ materially and adversely from those expressed in such forward-looking statements. Such factors include, but are not limited to, our ability to raise additional capital, the absence of any operating history or revenue, our ability to attract and retain qualified personnel, our dependence on third party developers who we can not control, our ability to develop and introduce a new service to the market, market acceptance of our services, legislative, regulatory and competitive developments addressing licensing and enforcement of patents and/or intellectual property, general economic conditions, as well as other factors set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2011 filed with the Securities and Exchange Commission, and other filings with the Securities and Exchange commission and other public documents and press releases.
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