Los Angeles Business Journal

Virtual Piggy Inks Deal With German Videogame Firm

By Justin Yang Friday, March 14, 2014

Virtual Piggy Inc. announced Friday it signed a partnership with Europe Games Group to allow its roughly 15 million gamers to purchase in-app items via Virtual Piggy’s Oink payment system.

Virtual Piggy, a youth-oriented payment system company, generates revenue by taking a transaction fee from its partners.

Jo Webber, chief executive of the Hermosa Beach company, said she is in talks with major game studios like France’s Ubisoft Entertainment and Germany’s Crytek to implement Oink in their games. Europe Games Group is based in Munich.

“There are no physical products being shipped,” Webber said. “Digital goods were not even conceived when the credit card or PayPal started. That’s why none of the existing systems address them directly.”

The company hired consultant Sebastien Motte, a 19-year veteran of Microsoft’s videogame division, in November to help guide the company into the videogame market. It also signed a partnership with credit card issuer Discover Card Financial Services last month, enabling transactions at Oink to take place over the company's network.