Socialwise (SCLW) seeks to capitalize on the explosive growth of online commerce. The Company develops platforms that integrate into traditional eCommerce products and services. Its flagship product offering is an online payment solution for young people, BillMyParents.
BillMyParents provides payment solutions targeted to young people between the ages of 8 and 21. Solutions include both Supervised Shopping and MasterCard prepaid card with options ranging from giving parents complete control over purchases to simply monitoring purchase transactions. SCLW's solutions facilitate communication between parents and young people and help teach financial responsibility.
With the release of version 2.0 of BillMyParents, the Company has significantly upgraded its site’s capabilities, giving young people the freedom to shop online, subject to parent-directed controls. Out of the more than $132 billion spent annually by young people, $40 billion is spent offline on products researched online. Lack of an easy payment method was cited by 40% of teens as the reason why they do not make online purchases. BillMyParents addresses this untapped teen spending market with a multifaceted approach to online payment processing for teens and tweens giving them an easy way to purchase products online without a credit card.
SCLW also recently added a MasterCard prepaid card payment solution that can be used for purchases everywhere MasterCard is accepted. In addition to removing obstacles to online commerce (cited by 40% of teens surveyed), the BillMyParents' prepaid card solution removes the hazards associated with carrying cash.
SCLW Investor Highlights
Announced that professional skateboarder and 2010 Nickelodeon Kids' Choice Awards Favorite Male Athlete Ryan Sheckler has signed a deal with the Company to promote its online BillMyParents payment solution. Sheckler will be part of a major marketing initiative the Company plans to launch in late spring which will include a multitude of top action sports athletes and retailers.
Announced that Grass Roots Research and Distribution - Cohen Independent Research issued an in-depth research report on the Company, which provides a 12-month Cohen Price Target of $1.52 per share.
Announced that professional skateboarder and TV star Rob Dyrdek has signed a deal with the Company to promote its online BillMyParents payment solution and teen
Announced the release of version 2.0 of its online teen payment solutions site, BillMyParents. BillMyParents has significantly upgraded its previous capabilities giving teens the freedom to shop online (subject to parent-directed controls) and has added a
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