Financial Inclusion

GlobalCollect Deal Fattens Virtual Piggy’s Processing Capabilities

Virtual Piggy Inc., provider of the Oink payment technology for families and teens, has entered into a partnership with processor GlobalCollect for international processing support, the companies announced May 29.

GlobalCollect processes payments in more than 150 currencies in over 170 countries.

Oink’s payment technology enables retailers and game publishers to reach consumers younger than 21 in a safe, legal and effective manner. Its parental-controlled digital family wallet is available online or via mobile.

“Oink is an excellent addition to our growing global payments network around the world as a unique and innovative payment solution,” GlobalCollect exec Stephen Buechner said in a statement announcing the deal. “We have many merchants worldwide who aim to reach the complex U21 market who shop across many different channels, and this technology combines the security and simplicity required to effectively do so.”

In March, Virtual Piggy announced that the Discover Network would power its service.

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