BWI: Penté Group and Playspan Bring Branded Virtual Currency Platform to Leading Merchants and Celebrity Applications

Press release from Business Wire India
Source: PlaySpan India Pvt Ltd
Saturday, June 05, 2010 12:12 PM IST (06:42 AM GMT)
Editors: General: Consumer interest, Entertainment, Sports; Business: Advertising, PR & marketing, Business services, Information technology; Technology
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Penté Group and Playspan Bring Branded Virtual Currency Platform to Leading Merchants and Celebrity Applications
New service enables easy transfer of funds with reliable commerce payment methods

Mumbai, Maharashtra, India, Saturday, June 05, 2010 -- (Business Wire India) -- Penté Group Inc. and PlaySpan, the global leader in monetization solutions for online games, virtual worlds, and social networks, today announced a full service payment solution for Penté Group clients and partner, encompassing both white label and a branded virtual currency wallet for microtransactions of virtual/digital goods.

Penté Group is a leading developer of games, applications, websites and social media applications and one of the first interactive companies to bring a branded virtual currency to a mobile platform. PlaySpan's UltimatePay will facilitate commerce payments for Penté Group clients by providing a reliable and proven global payment solution.

"PlaySpan's track record says enough about what it can accomplish in such a short period of time," said Basil Bouraropoulos, CEO of Penté Group "Our team is eager to adapt this platform to some of our high traffic celebrity driven mobile and social applications. We are moving closer to launching our first disco music application thanks to our partners at Unidisc Music. The application will be one of the most unique disco themed games available today, giving users the ability to redeem virtual goods directly from the application. The application will feature major disco titles such as Irene Cara - 'Flash Dance..What a feeling' and Indeep- 'Last night a DJ saved my life."

Funding sources for rapidly growing and technology driven Penté Group, will include over 85 global payment methods such as credit card, PayPal, mobile providers, prepaid cards, as well as alternate and international payment methods covering over 180 countries. The payment platform will be embedded, or iframed inside the Penté Group application so that Penté Group merchants can enable UlitmatePay seamlessly and with little to no effort once they have established an UltimatePay account.

"Our relationship with Penté Group is a major step forward for PlaySpan and our ability to service a growing number of international merchants and celebrity accounts," said Karl Mehta, Founder & CEO of PlaySpan. "The agreement also represents a larger industry trend and the growing acceptance of alternative payment methods as a way for today's leading merchants to reach a growing population of consumers who are turning to virtual currency for their online and mobile purchases."

In addition to facilitating commerce transactions, UltimatePay will provide a comprehensive developer analytics console, consolidated reporting and monthly settlement for all payment methods to Penté Group clients. PlaySpan will also act as the merchant of record on behalf of Penté Group's clients who use UltimatePay.

About Penté Group Inc.

Penté Group Inc. is a Montreal-based Interactive agency, specializing in content driven interactive development. The company's goal is to develop and deploy products while using unique, product driven content which it has developed for Grammy award winners, internationally renowned entertainers and global brands.

About PlaySpan Inc

PlaySpanT is the global leader in monetization solutions for over 1,000 online games, virtual worlds, and social networks. PlaySpan's patent-pending in-game digital goods commerce and micropayment platform enables game publishers and developers to generate new revenues, acquire new users, and extend the loyalty of existing users.

PlaySpan's UltimatePayT combines PayByCash's 11 years of payment services experience with Spare Change's social network payment platform expertise to deliver an optimized payment solution with over 85 international payment methods including credit cards, PayPal, the ULTIMATE GAME CARDT - available in over 45,000 retail locations across North America and growing rapidly worldwide, and UltimatePointsT, the world's leading universal virtual currency.

For more information about PlaySpan, visit: http://corp.playspan.com



CONTACT DETAILS
Vinayak Rao, PlaySpan India Pvt Ltd, +91 9820045958, Vinayak.rao@playspan.com

KEYWORDS
CONSUMER, ENTERTAINMENT, SPORTS, MARKETING, BUSINESS SERVICES, IT, TECHNOLOGY

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