HERMOSA BEACH, Calif.--(BUSINESS WIRE)--Virtual Piggy, Inc. (OTCBB: VPIG), an innovator in safe-online youth management and commerce, today announced that they are providing a free to use service to allow the authentication of a child by a merchant site.
VP Authenticate™ is part of the Virtual Piggy solution. The VP Authenticate option allows a merchant to gain parental consent for children to use the merchant's website.
The previous method for obtaining parental consent is known as e-mail plus and while easy to use is prone to fraud. The FTC is in the process of reviewing and revising COPPA (Children's Online Privacy Protection Act) and has proposed eliminating e-mail plus as an allowed mechanism for gaining parental consent. This has left many websites in the position of needing to quickly find a more secure alternative.
“VP Authenticate uses a secure mechanism to validate the identity of both the parent and the child and establishes that the parent has approved the website for use by their child,” said Dr. Jo Webber, CEO of Virtual Piggy, Inc. “We have designed the service to be simple to implement for the merchant and easy and free to use for the parent and child.”
“After many years in the industry, we have always been aware of the shortcomings of e-mail plus,” said Dr. Alison Bryant, CEO of PlayScience. “I really like the thorough approach that Virtual Piggy has taken to solving this issue and I think this will be well received by both parents and merchants.”
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
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.