Today BillMyParents parent company Socialwise announced that it had entered a partnership with ad offer network Offerpal Media. The two companies will work together to develop new payment solutions targeted at teens and tweens.
"We plan to create effective solutions by combining the unique attributes of the BillMyParents youth payment system, along with Offerpal’s leading position in online monetization," said Jim Collas, CEO of Socialwise, in a press statement. "This partnership could take online revenues from the tween and teen market segments to a new level."
For now, Offerpal Media will be adding BillMyParents as one of the direct payment options in its monetization platform, alongside PayPal, Visa, and Mastercard. Now teens and tweens will be able to pay for virtual currency through Offerpal, as well as obtain it by accepting ad offers.
At launch, BillMyParents focused on the physical goods retailer Amazon and the RockYou, Outspark, and Habbo online communities. A partnership with Offerpal would dramatically increase BillMyParents's reach to include Offerpal's 2000 client partners. Offerpal would also benefit from having a parent-friendly direct payment method on tap, which could make its managed offer platform more attractive to youth virtual worlds and online games.
Offerpal has been making moves to cater to younger users for several months now. Probably the most high-profile of them is Offerpal SURVEYS, a product that let clients include only free market research survey offers in their virtual world or online game. The company is also looking to control damage done to its reputation by the ScamVille controversy that erupted earlier this month, taking steps like issuing new advertiser guidelines.
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