Portfolio Press Release
Offerpal Media Launches New Rewards Program for Gamers to Earn Virtual Currency by Shopping Online
'Offerpal Shopping' awards virtual currency for purchases made at hundreds of brand-name retailers; currency can be used in thousands of online games and social networks
Offerpal Media Press Release
2 December 2009
FREMONT, Calif., Dec. 2 /PRNewswire/ — Offerpal Media (http://offerpalmedia.com), the leader in virtual currency payment alternatives, today announced "Offerpal Shopping," a new way for consumers to earn virtual currency for use in their favorite online games and social networks by shopping at brand-name retailers. The new service enables consumers to receive virtual currency back for every dollar they spend at hundreds of online retailers in categories including clothing and accessories, electronics, entertainment, food, furniture, gifts, services, software, sports, travel and more. Shoppers are typically reimbursed the equivalent of 5 to 10% of their purchase in virtual currency, with many reimbursements up to 30% or more.
"Our goal has always been to give consumers an alternative to paying for virtual currency by letting them earn it instead—whether by filling out ad offers, completing surveys, or now simply by shopping for the types of goods and services they already use every day," said George Garrick, CEO of Offerpal Media. "We are also proud to deliver a new way for game developers to monetize their traffic and reward their most loyal users."
Offerpal Shopping is available as a tab within the Offerpal I-frame, which can be found in more than 2,000 online games, social networks and virtual worlds throughout the Web. Users can browse through the hundreds of available retailers and make informed purchasing decisions based on important details provided by Offerpal, including a description of the products, the amount of virtual currency awarded, the minimum purchase requirements, and the length of time it takes to receive the virtual currency—typically 1-2 days.
A small sampling of the retailers currently in the system includes:
Category |
Partner |
Virtual Currency Awarded |
| Health & Beauty Gifts Clothes Software Sports Furniture Electronics Travel Art/Music/Photo Department Store |
24 Hour Fitness Proflowers Gap McAfee Eastern Mountain Sports CostPlus Buy.com Priceline Snapfish Macy’s |
5 – 10% 10% 4% 18% 7% 5% 3 – 8% 2% 8% 4% |
For developers of social gaming applications and web sites, Offerpal Shopping increases revenues by introducing a new payment option and monetizing users who are not likely to purchase virtual currency directly. It can be turned on or off as a tab within the main I-frame, and will also be available as a standalone I-frame for developers interested in a separate integration. Early tests of Offerpal Shopping demonstrated a clear lift in both incremental revenue and payment conversions for the company’s publishing partners. For more information, developers can contact publishersupport@offerpal.com.
Retailers interested in promoting their products through Offerpal Shopping can contact info@offerpal.com.
About Offerpal Media
Offerpal Media is the leader in virtual currency monetization for online games, virtual worlds and social networks. The company's turnkey payment platform gives consumers the opportunity to earn or buy virtual currency by completing targeted advertising offers or by purchasing it through direct, global payment options. Since its launch in 2007, Offerpal has issued more than 750 billion virtual points to more than 160 million consumers across 2,000 publishers. The company is headquartered in Fremont, California. Investors include Interwest Capital, North Bridge Venture Partners, and D. E. Shaw Ventures. For more information, visit www.offerpalmedia.com.
