|[December 18, 2012]
CardinalCommerce Corporation to Partner with Virtual Piggy to bring safe transactions to the Under 21 online market
HERMOSA BEACH, Calif. & CLEVELAND --(Business Wire)--
Piggy, Inc. (OTCBB: VPIG) today announced it has signed an agreement
with CardinalCommerce Corporation to integrate its youth payment
technology into their Centinel® Universal Merchant Platform through
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.
Cardinal is the global leader in enabling authenticated payments, secure
transactions and alternative payment brands both for eCommerce and
"Cardinal is a key partner for Virtual Piggy," said Founder and CEO Dr.
Jo Webber. "The reach of their client base and the efficiency of their
technology will allow many new merchants to sign up and integrate with
Virtual Piggy. We're very excited about the many avenues this
partnership will open up for our business."
"We are pleased to offer Virtual Piggy as a payment option to our
network of eCommerce and mCommerce merchants," said Colt McCutcheon,
Vice President Global Sales CardinalCommerce. "Launching Virtual Piggy
on the Centinel platform provides our Customers with the opportunity to
generate revenue while providing parents the technology to allow their
children to safely make online purchases. Virtual Piggy shares one of
Cardinal's goals, which is to bring secure remote transactions to
customers domestically and internationally."
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 arket, 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 (News - Alert) and on the Web at: www.virtualpiggy.com.
CardinalCommerce has been a pioneer in the remote payments industry
since 1999 and is a branded global leader in enabling authenticated
payment transactions in the electronic commerce and remote commerce
Cardinal's SaaS (News - Alert) software platforms for merchants, banks, processors and
transaction supply chain providers create friction-free interoperability
among otherwise disparate and incompatible operating systems. Cardinal's
platforms enable technology-neutral authentication across a wide range
of applications. The Company's proprietary, patented solutions easily
facilitate the addition of new technology for remote distribution
channels through a single connection. This allows merchants to securely
accept payments from the entire financial transaction ecosystem.
The universe of payments spans from traditional credit and debit card
brands like MasterCard and Visa, to established and emerging alternative
payment brands like PayPal (News - Alert), Green Dot, and Alipay. In accommodating this
growing number of payment brands and methods, and these technology and
authentication approaches within legacy infrastructure, Cardinal's
platforms serve as universal switches, supporting virtually all merchant
platforms, wallets, processing systems and authentication methodologies.
CardinalCommerce is headquartered in Cleveland, Ohio and services a
worldwide Customer base from facilities in the United States, Europe and
Africa. For more information, visit www.cardinalcommerce.com.
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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