HERMOSA BEACH, Calif.--(BUSINESS WIRE)--Virtual Piggy, Inc. (OTCBB: VPIG) announced today that it has signed an agreement with Melissa Shoes to feature its safe youth payments technology on 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.
Melissa Shoes offers high end, eco-friendly shoes that are sold at 4,000 points of sale worldwide in more than 70 countries, generating over a billion dollars in sales each year. Their products are sold in stores such as Saks Fifth Ave and Urban Outfitters, and online in the U.S. at Shop601.com. Popular with celebrities, Melissa Shoes have been spotted on Katy Perry, Anne Hathaway, and Kate Moss.
"Virtual Piggy came to us at a perfect time, just as our children’s business was really coming into it’s stride,” said Michele Levy, CEO of Melissa Shoes. “To allow a young generation of consumers the ability to shop, browse the web safely and hopefully learn some economic lessons is both exciting and fun. We think Virtual Piggy will be a great partnership for Melissa Shoes and we cannot wait to get started.”
“This partnership with Melissa Shoes gives Virtual Piggy users a fashion forward shoe company to purchase from,” said Virtual Piggy Founder and CEO Dr. Jo Webber. “We expect they will be extremely popular with the girls, teens, tweens and young adults who use our free service.”
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 Melissa Shoes
Since the late 1980’s Melissa has teamed up with the likes of Jean Paul Gaultier, Zaha Hadid, Thierry Mugler, Vivienne Westwood, KarimRashid, the Campana Brothers and other celebrated designers and artists to launch iconic design collaborations. The results reflect not only the individual style of each designer but also the cultural ethos that gives each specific era its characteristic hue.
Melissa Shoes are made of 100% recyclable plastic by a socially and environmentally responsible company located in Brazil, where it employs more than 30,000 people. The company donates generously to a number of local environmental efforts and has been the recipient of numerous awards for its “green” credentials.
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.