Heartland and MasterCard Agree to $41.4 Million Intrusion Settlement

Image via Wikipedia

May 19, 2010 04:44 PM Eastern Daylight Time  

Heartland Payment Systems® and MasterCard Agree to $41.4 Million Intrusion Settlement

Company has now reached breach-related settlements with three major card brands

PRINCETON, N.J.--(BUSINESS WIRE)--Heartland Payment Systems® (NYSE: HPY), the nation’s fifth largest payments processor, has entered into a settlement agreement with MasterCard Worldwide to resolve claims from MasterCard and its issuers related to the 2008 criminal intrusion into Heartland's payment system environment. Under the agreement, alternative recovery offers totaling $41.4 million will be made to eligible MasterCard issuers with respect to losses alleged to have been incurred by them as a result of the criminal intrusion, and MasterCard will recommend that eligible MasterCard issuers accept such offers.

Bob Carr, Heartland’s chairman and chief executive officer, stated, “We are pleased to have reached an equitable settlement agreement that helps issuers of MasterCard-branded cards obtain a recovery with respect to losses they may have incurred from the intrusion. We look forward to working with MasterCard to encourage these issuers to participate in the settlement program for a speedy resolution.”

The settlement is contingent upon financial institutions representing 80 percent of the claimed-on MasterCard accounts accepting their alternative recovery offers by June 25, 2010. The settlement also includes mutual releases between Heartland and its sponsoring bank acquirers on the one hand – and MasterCard and the accepting issuers on the other. Issuers that accept their alternative recovery offers must waive rights to any other recovery of alleged intrusion-related losses from Heartland and its sponsoring bank acquirers through litigation or other remedies and release MasterCard, Heartland and its sponsoring bank acquirers from all legal and financial responsibility related to the intrusion.

All eligible issuers will soon receive notification from MasterCard with full details of the settlement agreement and how to accept their alternative recovery offers before the offers expire.

About Heartland Payment Systems

Heartland Payment Systems, Inc. (NYSE: HPY), the fifth largest payments processor in the United States, delivers credit/debit/prepaid card processing, gift marketing, payroll, check managementand related business solutions to more than 250,000 business locations nationwide. Heartland is the founding Heartland and MasterCard Worldwide agree on settlement/supporter of The Merchant Bill of Rights, a public advocacy initiative that educates merchants about fair credit and debit card processing practices. For more information, please visitHeartlandPaymentSystems.com, MerchantBillOfRights.org, CostOfABurger.com and E3secure.com.

Contacts

Vault Communications

Leanne Scott Brown, 610-455-2742

LBrown@VaultCommunications.com

OR

Heartland Payment Systems

Nancy Gross, 888-798-3131 x2202

Nancy.Gross@e-hps.com

Permalink: http://www.businesswire.com/news/home/20100519007054/en/Heartland-Payment-Systems%C2%AE-MasterCard-Agree-41.4-Million

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Heartland and MasterCard Agree to $41.4 Million Intrusion Settlement

Image via Wikipedia

May 19, 2010 04:44 PM Eastern Daylight Time  

Heartland Payment Systems® and MasterCard Agree to $41.4 Million Intrusion Settlement

Company has now reached breach-related settlements with three major card brands

PRINCETON, N.J.--(BUSINESS WIRE)--Heartland Payment Systems® (NYSE: HPY), the nation’s fifth largest payments processor, has entered into a settlement agreement with MasterCard Worldwide to resolve claims from MasterCard and its issuers related to the 2008 criminal intrusion into Heartland's payment system environment. Under the agreement, alternative recovery offers totaling $41.4 million will be made to eligible MasterCard issuers with respect to losses alleged to have been incurred by them as a result of the criminal intrusion, and MasterCard will recommend that eligible MasterCard issuers accept such offers.

Bob Carr, Heartland’s chairman and chief executive officer, stated, “We are pleased to have reached an equitable settlement agreement that helps issuers of MasterCard-branded cards obtain a recovery with respect to losses they may have incurred from the intrusion. We look forward to working with MasterCard to encourage these issuers to participate in the settlement program for a speedy resolution.”

The settlement is contingent upon financial institutions representing 80 percent of the claimed-on MasterCard accounts accepting their alternative recovery offers by June 25, 2010. The settlement also includes mutual releases between Heartland and its sponsoring bank acquirers on the one hand – and MasterCard and the accepting issuers on the other. Issuers that accept their alternative recovery offers must waive rights to any other recovery of alleged intrusion-related losses from Heartland and its sponsoring bank acquirers through litigation or other remedies and release MasterCard, Heartland and its sponsoring bank acquirers from all legal and financial responsibility related to the intrusion.

All eligible issuers will soon receive notification from MasterCard with full details of the settlement agreement and how to accept their alternative recovery offers before the offers expire.

About Heartland Payment Systems

Heartland Payment Systems, Inc. (NYSE: HPY), the fifth largest payments processor in the United States, delivers credit/debit/prepaid card processing, gift marketing, payroll, check managementand related business solutions to more than 250,000 business locations nationwide. Heartland is the founding Heartland and MasterCard Worldwide agree on settlement/supporter of The Merchant Bill of Rights, a public advocacy initiative that educates merchants about fair credit and debit card processing practices. For more information, please visitHeartlandPaymentSystems.com, MerchantBillOfRights.org, CostOfABurger.com and E3secure.com.

Contacts

Vault Communications

Leanne Scott Brown, 610-455-2742

LBrown@VaultCommunications.com

OR

Heartland Payment Systems

Nancy Gross, 888-798-3131 x2202

Nancy.Gross@e-hps.com

Permalink: http://www.businesswire.com/news/home/20100519007054/en/Heartland-Payment-Systems%C2%AE-MasterCard-Agree-41.4-Million

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Payvment—Number One E-Commerce Solution on Facebook—Secures $1.5 Million in Funding

BlueRun Ventures Leads Round with Angel Investor Dave McClure

SAN FRANCISCO--(BUSINESS WIRE)--Payvment, the top Facebook e-commerce solution provider, has announced that it has secured a $1.5 million Series A funding round led by BlueRun Ventures, the respected venture capital firm that originally funded PayPal. Well-known angel Dave McClure has also joined as an individual investor.

“This is the first product that directly connects Facebook to a sale, delivering stronger, more tangible relationships between buyers and sellers.”

Payvment provides a free Facebook application that allows businesses, organizations and individuals to set up virtual storefronts and begin selling to 400 million Facebook users within five minutes. Since the company launched in November, over 20,000 businesses and individuals have started to sell goods on Facebook and over 500,000 Facebook users have shopped for products in stores using the Payvment app.

“Because buying on Facebook is relatively new, sellers just haven’t had the tools they’ve needed to make the most of the Facebook network effect,” said Christian Taylor, CEO of Payvment. “Facebook users want a buying experience that captures what’s truly unique about the Facebook experience. They want to be able to easily find products and brands, use a shopping cart that travels with them across storefronts, and take advantage of discounts sellers can offer to attract their loyalty. Payvment delivers on the promise of the social network, and helps sellers transform a relationship into a sale.”

Payvment's current sellers have been able to increase overall sales Fan/Like actions.

“Payvment has opened up a tremendous world of opportunity for my beauty business,” said Cheri Tracy, founder of cosmetic company, Orglamix. “My goal used to be to drive Facebook users from my Fan page to our Web site to secure a sale, but with Payvment customers can buy and never leave Facebook. My potential market now includes every woman on Facebook and they can easily find my cosmetics by using Payvment’s search tool. In just a few short weeks, Orglamix has doubled our new fans and buyers as a result of implementing Payvment’s new Fan Incentive Pricing. This new feature makes anyone who "Likes" Orglamix's Facebook page eligible for an instant discount on any purchase within the Orglamix Facebook storefront."

BlueRun Ventures is a ten year old, respected venture capital firm with a legacy in mobile and Internet infrastructure and application investments. BlueRun invests in the first round of financing and works closely with entrepreneurs to develop and execute their strategies. Select BlueRun investments include PayPal, Slide, WiderThan, Wavemarket, Fwix and Chomp.

“Payvment is ground breaking in that it instantly takes Facebook from a social network and marketing platform to monetization,” said Jonathan Ebinger, Partner, BlueRun Ventures. “This is the first product that directly connects Facebook to a sale, delivering stronger, more tangible relationships between buyers and sellers.”

Dave McClure is a well-known Silicon Valley tech entrepreneur, startup investor, and blogger. He currently makes independent angel investments. McClure is an investor in over 50 startup companies including, Mint (acquired by Intuit), SlideShare, Twilio and Simply Hired. He has run the Founders Fund seed-stage investment program, including the FF Angel seed fund and Facebook incubator program, fbFund REV. Before joining Founders Fund, Dave spent twenty years as a technology entrepreneur, investor, and executive. He was also an early investor and on the management team for job search engine Simply Hired. Dave also served as Director of Marketing for PayPal, where he launched the PayPal Developer Network.

Payvment is the fastest, easiest way to sell on Facebook. And it’s free to sellers and buyers. Payvment’s one-of-a-kind e-commerce features on Facebook, include:

• Universal shopping cart – shoppers can carry their goods across all Payvment-powered storefronts. For merchants, this feature addresses the serious problem of shopping cart abandonment. Forrester Research estimates that 59 percent of the time online shoppers put items into a shopping cart they fail to complete the transaction. Payvment increases the chance of completing sales, because the item remains in the cart until the customer either removes it or completes the purchase. It even remains in the cart when the user leaves Facebook. The result—items are less likely to be forgotten and abandoned. And Payvment automatically updates product pricing and availability.


• Patent-pending shopping discovery and search tool designed specifically for Facebook e-commerce allows shoppers to carry their goods with them across thousands of Payvment-powered storefronts on Facebook.com. Payvment’s proprietary discovery tool is the only Facebook search feature specifically designed to help users discover retailers and their products. Facebook’s existing search tool was designed for Profile search and not for the unique requirements of e-commerce on Facebook.


• Ability to offer Fan discounts.


• Ability for users to add storefront comments and reviews.

About Payvment

Payvment provides the fastest and easiest way to search, discover, buy and sell merchandise directly within social networks. Payvment allows over 400 million Facebook users to now purchase directly from sellers without leaving Facebook.com. Facebook shoppers “carry” a Payvment virtual shopping cart wherever they go on Facebook. Payvment allows sellers to instantly transform Fan page visitors to purchasers and experiment with a diverse range of promotions and marketing tools customized for social network communities. Payvment was founded in 2009 by Christian Taylor and Joelle Musante, who previously developed social network Fan Web sites for Fortune 500 companies. The company is based in San Francisco, California. Over 500,000 users have shopped using Payvment in the first four months alone. For more information about Payvment, visit them online: http://www.payvment.com or via Facebook: http://www.facebook.com/payvment.

Contacts

Media and Analyst Contact:

K/F Communications for Payvment

Julie Karbo, 415-255-6505

julie@kfcomm.com

or

Alicia Halatsis, 415-255-6512

alicia@kfcomm.com

Permalink: http://www.businesswire.com/news/home/20100519005691/en/Payvment%E2%80%94Number-E-Commerce-Solution-Facebook%E2%80%94Secures-1.5-Million-Funding

Payvment—Number One E-Commerce Solution on Facebook—Secures $1.5 Million in Funding

BlueRun Ventures Leads Round with Angel Investor Dave McClure

SAN FRANCISCO--(BUSINESS WIRE)--Payvment, the top Facebook e-commerce solution provider, has announced that it has secured a $1.5 million Series A funding round led by BlueRun Ventures, the respected venture capital firm that originally funded PayPal. Well-known angel Dave McClure has also joined as an individual investor.

“This is the first product that directly connects Facebook to a sale, delivering stronger, more tangible relationships between buyers and sellers.”

Payvment provides a free Facebook application that allows businesses, organizations and individuals to set up virtual storefronts and begin selling to 400 million Facebook users within five minutes. Since the company launched in November, over 20,000 businesses and individuals have started to sell goods on Facebook and over 500,000 Facebook users have shopped for products in stores using the Payvment app.

“Because buying on Facebook is relatively new, sellers just haven’t had the tools they’ve needed to make the most of the Facebook network effect,” said Christian Taylor, CEO of Payvment. “Facebook users want a buying experience that captures what’s truly unique about the Facebook experience. They want to be able to easily find products and brands, use a shopping cart that travels with them across storefronts, and take advantage of discounts sellers can offer to attract their loyalty. Payvment delivers on the promise of the social network, and helps sellers transform a relationship into a sale.”

Payvment's current sellers have been able to increase overall sales Fan/Like actions.

“Payvment has opened up a tremendous world of opportunity for my beauty business,” said Cheri Tracy, founder of cosmetic company, Orglamix. “My goal used to be to drive Facebook users from my Fan page to our Web site to secure a sale, but with Payvment customers can buy and never leave Facebook. My potential market now includes every woman on Facebook and they can easily find my cosmetics by using Payvment’s search tool. In just a few short weeks, Orglamix has doubled our new fans and buyers as a result of implementing Payvment’s new Fan Incentive Pricing. This new feature makes anyone who "Likes" Orglamix's Facebook page eligible for an instant discount on any purchase within the Orglamix Facebook storefront."

BlueRun Ventures is a ten year old, respected venture capital firm with a legacy in mobile and Internet infrastructure and application investments. BlueRun invests in the first round of financing and works closely with entrepreneurs to develop and execute their strategies. Select BlueRun investments include PayPal, Slide, WiderThan, Wavemarket, Fwix and Chomp.

“Payvment is ground breaking in that it instantly takes Facebook from a social network and marketing platform to monetization,” said Jonathan Ebinger, Partner, BlueRun Ventures. “This is the first product that directly connects Facebook to a sale, delivering stronger, more tangible relationships between buyers and sellers.”

Dave McClure is a well-known Silicon Valley tech entrepreneur, startup investor, and blogger. He currently makes independent angel investments. McClure is an investor in over 50 startup companies including, Mint (acquired by Intuit), SlideShare, Twilio and Simply Hired. He has run the Founders Fund seed-stage investment program, including the FF Angel seed fund and Facebook incubator program, fbFund REV. Before joining Founders Fund, Dave spent twenty years as a technology entrepreneur, investor, and executive. He was also an early investor and on the management team for job search engine Simply Hired. Dave also served as Director of Marketing for PayPal, where he launched the PayPal Developer Network.

Payvment is the fastest, easiest way to sell on Facebook. And it’s free to sellers and buyers. Payvment’s one-of-a-kind e-commerce features on Facebook, include:

• Universal shopping cart – shoppers can carry their goods across all Payvment-powered storefronts. For merchants, this feature addresses the serious problem of shopping cart abandonment. Forrester Research estimates that 59 percent of the time online shoppers put items into a shopping cart they fail to complete the transaction. Payvment increases the chance of completing sales, because the item remains in the cart until the customer either removes it or completes the purchase. It even remains in the cart when the user leaves Facebook. The result—items are less likely to be forgotten and abandoned. And Payvment automatically updates product pricing and availability.


• Patent-pending shopping discovery and search tool designed specifically for Facebook e-commerce allows shoppers to carry their goods with them across thousands of Payvment-powered storefronts on Facebook.com. Payvment’s proprietary discovery tool is the only Facebook search feature specifically designed to help users discover retailers and their products. Facebook’s existing search tool was designed for Profile search and not for the unique requirements of e-commerce on Facebook.


• Ability to offer Fan discounts.


• Ability for users to add storefront comments and reviews.

About Payvment

Payvment provides the fastest and easiest way to search, discover, buy and sell merchandise directly within social networks. Payvment allows over 400 million Facebook users to now purchase directly from sellers without leaving Facebook.com. Facebook shoppers “carry” a Payvment virtual shopping cart wherever they go on Facebook. Payvment allows sellers to instantly transform Fan page visitors to purchasers and experiment with a diverse range of promotions and marketing tools customized for social network communities. Payvment was founded in 2009 by Christian Taylor and Joelle Musante, who previously developed social network Fan Web sites for Fortune 500 companies. The company is based in San Francisco, California. Over 500,000 users have shopped using Payvment in the first four months alone. For more information about Payvment, visit them online: http://www.payvment.com or via Facebook: http://www.facebook.com/payvment.

Contacts

Media and Analyst Contact:

K/F Communications for Payvment

Julie Karbo, 415-255-6505

julie@kfcomm.com

or

Alicia Halatsis, 415-255-6512

alicia@kfcomm.com

Permalink: http://www.businesswire.com/news/home/20100519005691/en/Payvment%E2%80%94Number-E-Commerce-Solution-Facebook%E2%80%94Secures-1.5-Million-Funding

SecureTrading to Exhibit and Present Seminar at Ecommerce EXPO North

SecureTrading to present seminar with BT Fresca at Ecommerce EXPO North 2010 on choosing and building the right payments partner

BANGOR, UNITED KINGDOM-Marketwire - SecureTrading http://www.securetrading.com the online Payments Service Provider (PSP) is to present an ecommerce seminar with BT Fresca at Ecommerce EXPO North in Manchester later this month.

The seminar entitled "Collaborative Commerce - The importance of choosing the perfect ecommerce partner" is to be presented by SecureTrading & BT Fresca in Theatre 1 from 10.30am to 11.00am on Thursday, 27 May 2010.

The seminar focuses on why choosing the right partner is crucial in business and how it can be the difference between success and failure.

SecureTrading and BT Fresca, the ecommerce division of BT Expedite, the retail specialist division within BT will present a joint seminar discussing the importance of supplier partnerships, and how to ensure both parties can get the most out of them. 

SecureTrading and BT Fresca enjoy a long-standing successful partnership and attendees can learn more how by registering for the seminar at http://sn.im/vvkx9. The seminar led by Jon Prideaux, deputy chief executive at SecureTrading with Gerry Partridge, sales manager at BT Fresca will outline how this partnership was developed and how both companies continue to make it a success.

Jon Prideaux, deputy chief executive at SecureTrading comments, "In such competitive environments it is critical to build strong unions that maximise the strength of relationships to ensure that online payments are both safe and easier to manage for customers. The relationship we have developed with BT Fresca since 2005 is an example of how companies can adapt to market conditions mutually benefiting from understanding each other's goals."

"We selected SecureTrading as the Payment Service Provider for our e-commerce platform in 2005. Since then, we have worked closely together to provide a reliable, responsive and high quality service to the retailers on the FrescaCommerce Platform.

We have always had an excellent relationship with SecureTrading, and the benefits of our partnership are clear in the quality of service our own clients receive," adds Gerry Partridge, sales manager at BT Fresca.

Visit SecureTrading at stand 108 to learn more about SecureTrading and its products, updates and new releases at the Ecommerce EXPO North 2010.

----Notes to editors----

Register for the SecureTrading and BT Fresca seminar athttp://sn.im/vvkx9. Visit SecureTrading at stand 108.

The media spokespeople for SecureTrading is Ian Cushion, marketing & sales manager.

Photographs are available of the SecureTrading team.

About SecureTrading

http://www.securetrading.com

SecureTrading is a leading independent payment service provider (PSP), founded in 1997 in Bangor, North Wales to address the demand for leading edge online payment technology. One of the first independent internet PSPs in the UK, SecureTrading grew quickly from its initial size.

It now processes over a million credit and debit card transactions every month via UK and European acquiring banks for over 3,000 merchants, varying in size from start-ups and SMEs to large corporate businesses. Serving all merchant sectors, its merchants include Merlin Entertainments (including Alton Towers and Madame Tussauds), DeVere, Harvey Nichols, Henri Lloyd, Karen Millen, Mulberry Group, Scottish City Link and Phones 4U.

SecureTrading is a fully accredited as a Level 1 compliant provider - the highest level of compliance - under the Payment Card Industry Data Security Standard (PCI DSS). Follow SecureTrading on Flickr http://flickr.com/SecureTrading, Facebook, Twitterhttp://twitter.com/SecureTrading and YouTube http://youtube.com/SecureTrading.

About BT Fresca

http://www.btfresca.com

BT Fresca are the e-commerce division of BT Expedite, the retail solutions division of BT. Fresca were established in October 2000 and acquired by BT plc in January 2008. BT Fresca are a specialist e-commerce service provider and has supplied multichannel solutions for over eight years. They are a team of committed people with real expertise in their field, and a passion for delivering beautiful and successful e-commerce websites to top retailers such as Aurora Fashions, Thomas Pink, Great Little Trading Co., Habitat, Matalan, Phase Eight, Whistles, Jane Norman, Liberty, and Harvey Nichols.

SecureTrading to Exhibit and Present Seminar at Ecommerce EXPO North

SecureTrading to present seminar with BT Fresca at Ecommerce EXPO North 2010 on choosing and building the right payments partner

BANGOR, UNITED KINGDOM-Marketwire - SecureTrading http://www.securetrading.com the online Payments Service Provider (PSP) is to present an ecommerce seminar with BT Fresca at Ecommerce EXPO North in Manchester later this month.

The seminar entitled "Collaborative Commerce - The importance of choosing the perfect ecommerce partner" is to be presented by SecureTrading & BT Fresca in Theatre 1 from 10.30am to 11.00am on Thursday, 27 May 2010.

The seminar focuses on why choosing the right partner is crucial in business and how it can be the difference between success and failure.

SecureTrading and BT Fresca, the ecommerce division of BT Expedite, the retail specialist division within BT will present a joint seminar discussing the importance of supplier partnerships, and how to ensure both parties can get the most out of them. 

SecureTrading and BT Fresca enjoy a long-standing successful partnership and attendees can learn more how by registering for the seminar at http://sn.im/vvkx9. The seminar led by Jon Prideaux, deputy chief executive at SecureTrading with Gerry Partridge, sales manager at BT Fresca will outline how this partnership was developed and how both companies continue to make it a success.

Jon Prideaux, deputy chief executive at SecureTrading comments, "In such competitive environments it is critical to build strong unions that maximise the strength of relationships to ensure that online payments are both safe and easier to manage for customers. The relationship we have developed with BT Fresca since 2005 is an example of how companies can adapt to market conditions mutually benefiting from understanding each other's goals."

"We selected SecureTrading as the Payment Service Provider for our e-commerce platform in 2005. Since then, we have worked closely together to provide a reliable, responsive and high quality service to the retailers on the FrescaCommerce Platform.

We have always had an excellent relationship with SecureTrading, and the benefits of our partnership are clear in the quality of service our own clients receive," adds Gerry Partridge, sales manager at BT Fresca.

Visit SecureTrading at stand 108 to learn more about SecureTrading and its products, updates and new releases at the Ecommerce EXPO North 2010.

----Notes to editors----

Register for the SecureTrading and BT Fresca seminar athttp://sn.im/vvkx9. Visit SecureTrading at stand 108.

The media spokespeople for SecureTrading is Ian Cushion, marketing & sales manager.

Photographs are available of the SecureTrading team.

About SecureTrading

http://www.securetrading.com

SecureTrading is a leading independent payment service provider (PSP), founded in 1997 in Bangor, North Wales to address the demand for leading edge online payment technology. One of the first independent internet PSPs in the UK, SecureTrading grew quickly from its initial size.

It now processes over a million credit and debit card transactions every month via UK and European acquiring banks for over 3,000 merchants, varying in size from start-ups and SMEs to large corporate businesses. Serving all merchant sectors, its merchants include Merlin Entertainments (including Alton Towers and Madame Tussauds), DeVere, Harvey Nichols, Henri Lloyd, Karen Millen, Mulberry Group, Scottish City Link and Phones 4U.

SecureTrading is a fully accredited as a Level 1 compliant provider - the highest level of compliance - under the Payment Card Industry Data Security Standard (PCI DSS). Follow SecureTrading on Flickr http://flickr.com/SecureTrading, Facebook, Twitterhttp://twitter.com/SecureTrading and YouTube http://youtube.com/SecureTrading.

About BT Fresca

http://www.btfresca.com

BT Fresca are the e-commerce division of BT Expedite, the retail solutions division of BT. Fresca were established in October 2000 and acquired by BT plc in January 2008. BT Fresca are a specialist e-commerce service provider and has supplied multichannel solutions for over eight years. They are a team of committed people with real expertise in their field, and a passion for delivering beautiful and successful e-commerce websites to top retailers such as Aurora Fashions, Thomas Pink, Great Little Trading Co., Habitat, Matalan, Phase Eight, Whistles, Jane Norman, Liberty, and Harvey Nichols.

BillMyParents® Announces Innovative Peace of Mind Control PanelTM for Parents

SAN DIEGO, CA--(Marketwire - May 19, 2010) -  BillMyParents®, the online teen payment solutions company from Socialwise, Inc. (OTCBB: SCLW), premiered today its Peace of Mind Control Panel™ feature that works in conjunction with its teen reloadable prepaid MasterCard®. The proprietary panel enables parents to easily monitor and manage their teens' BillMyParents® reloadable prepaid MasterCard® accounts, and is just one of the unique elements that makeBillMyParents® a leader in teen payment solutions and user security for today's fast-paced environment.

"We developed the Peace of Mind Control Panel in order to specifically give parents an unparalleled level of monitoring and control services that are not typically associated with other standard debit card programs," says Jim Collas, President and CEO of BillMyParents®. "Carrying cash can be risky, and the safety and ease of our reloadable prepaid MasterCard® means parents and teens can have ongoing dialogue about financial responsibility while enabling teens a higher level of the independence they yearn for."

The BillMyParents® reloadable prepaid MasterCard® is the debit card parents don't need to worry about, and is accepted at over 25 million locations worldwide. Through the Peace of Mind Control Panel™, Transaction Alerts deliver parents a text or email every time a transaction is made, including the name and location of the vendor, the amount of sale, and the remaining balance. Lost Card Protection covers a lost or stolen card, with funds automatically transferred to the replacement card -- completely hassle-free. With Emergency Load, parents can instantly add funds to a card account whether it's for gas for a stranded teen or for last minute movie tickets or meals. Also, parents have the ability to instantly enable or disable cards using the Lock/Unlock Account feature.

About BillMyParents®BillMyParents® provides payment solutions targeted to young people between the ages of 8 and 21. Our solutions facilitate communication between parents and young people and help 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.

About MasterCard® WorldwideMasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 22 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com. Follow us on Twitter: @mastercardnews.

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.

Socialwise, Inc. Media Contact:

Sunny Zobel

503.213.3510

sunny@themilkmilk.com



Socialwise, Inc. Investor Relations Contact:

Robert Wheat

619-218-9908

rwheat@socialwise.com

Click here to see all recent news from this company

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