SOURCE: Socialwise, Inc.

Socialwise, Inc.

June 17, 2010 09:03 ET

BillMyParents® Inks Deals With Multiple Major Action Sports Retailers

SAN DIEGO, CA--(Marketwire - June 17, 2010) -  BillMyParents®, the online teen payment solutions division of Socialwise, Inc. (OTCBB: SCLW), announced that they are partnering with three major action sports retailers for their Supervised Shopping™ program. Targeting sites where teens browse and shop online, BillMyParents® has selected retail partners representing over $1B in annual sales from millions of consumers online and with over 900 stores nationwide. These retail partners plan to promote BillMyParents® to their existing consumer base, generating 20 million impressions of the BillMyParents® branded shopping button per month. Announcements of the retailer sites' inclusion of BillMyParents® is expected for July and early August, as the major action sports marketing campaign geared to tweens and teens unfolds.

BillMyParents® is currently in the implementation phase with each of their new action sports retail partners, launching on their websites one after another starting in mid-June. This is the latest in a series of moves targeting action sports-specific teen participants and enthusiasts. Recently, the company announced high-profile endorsement deals made with top action sports athletes and MTV entertainment stars Rob Dyrdek, Travis Pastrana and Ryan Sheckler. In the U.S. alone, there are more than 30 million participants who skateboard, snowboard, surf, ride motocross and BMX.

"The action sports market has a tremendous influence within teens' lifestyles and trends," says Jim Collas, President and CEO of BillMyParents®. "The credibility of the athletes we've signed and the retailers we're partnering with (well-known retailers teens use on a regular basis) signifies our commitment to bringing our payment solutions directly to where tweens and teens like to shop."

When browsing a partner retail site, teens will see a branded BillMyParents® payment button next to individual items, allowing them to initiate a purchase in seconds. The user-friendly and data-secure automated system instantaneously notifies parents via email or text to review item details and complete the purchase. Teens and merchants never see parents' credit card information, and teens' spending accounts can be loaded with money in advance or on a regular basis, just like an allowance. Requests can also be sent to approved family members and friends, while parents can easily track what their teens have asked for, and from whom.

For More Information, visit our newly redesigned website at www.billmyparents.com.

About BillMyParents®
BillMyParents® provides payment solutions targeted to young people between the ages of 13 and 18. Our Supervised Shopping™ solution facilitates communication between parents and young people and helps to teach financial responsibility. For more information: www.billmyparents.com.

About Socialwise, Inc.
Socialwise, Inc. (OTCBB: SCLW) is headquartered in San Diego, CA. For more information: www.socialwise.com.

Certain statements contained in this press release are "forward-looking statements" within the meaning of federal securities laws, including, without limitation, anything relating or referring to future financial results and planned business activities. Such statements are inherently subject to risks and uncertainties, which include, without limitation, those in Company reports filed with the SEC. The Company can give no assurance that such expectations will prove correct. Future events and actual results could differ materially from those statements.

Contact Information

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