Socialwise Inc. said three sports retailers plan to accept and promote its BillMyParents online payment system.
The retailers, which Socialwise plans to name in July and August, have more than $1 billion in annual sales and would generate 20 million impressions of the BillMyParents payment button a month, the San Diego company said Thursday.
The BillMyParents system allows kids to shop online by choosing items they want and then notifying their parents of these intended purchases. The BillMyParents button appears next to individual products, rather than at the end of the checkout process as most payment methods do. After a kid clicks the payment button, the system sends a notification to the shopper's parents, who would then approve or veto any items they have been asked to buy.
Socialwise also offers a debit card with parental controls.
Jim Collas, Socialwise's president and chief executive, said in a press release that the new retailers are stores "where tweens and teens like to shop." His company focused on athletic stores because "the action sports market has a tremendous influence within teens' lifestyles and trends," he said.