Family friendly ecommerce solution, Virtual Piggy, is expanding its financial payment system to support monthly subscriptions (view press release). The new feature enables kids to purchase subscriptions within games and other online digital media. Fanlala, a social entertainment and lifestyle portal for kids, will be the first company to adopt the new feature, enabling users to subscribe to various digital media content such as music and games. Like all Virtual Piggy payments, parents set limits and time periods for subscription fees and are notified every time a payment is made towards a subscription.
“Virtual Piggy now supports both the micropayment revenue model and the subscriptions revenue model,” said Virtual Piggy CEO and founder, Dr Jo Webber. “These payment systems are prevalent in gaming, music and other digital media, with the subscription model accounting for approximately USD1.6 billion in online gaming revenue and USD6.5 billion in online music revenue in 2011.”