Frost & Sullivan Recognizes Virtual Piggy for Its Best Practices and Trailblazing Solution for the Online Retail Market

Frost & Sullivan Recognizes Virtual Piggy for Its Best Practices and Trailblazing Solution for the Online Retail Market PR Newswire MOUNTAIN VIEW, California, Nov. 28, 2012 - It admirably serves a long-needed market demand for a parent-controlled and secure online transactional environment for children MOUNTAIN VIEW, California, Nov. 28, 2012 /PRNewswire/ -- Based on its recent analysis of the online digital media market, Frost & Sullivan recognizes Virtual Piggy with the 2012 Global Frost & Sullivan Award for Entrepreneurial Company of the Year. In the dynamic online retail marketplace, only Virtual Piggy offers a parent-controlled, safe and secure transactional environment for children. The federal government passed the Children's Online Privacy Protection Act or COPPA in 1998 in response to increasingly younger demographics accessing and transacting on the Web. It mandates that Web sites aimed at underage children must get parental consent before gathering information about users under 13 years. Since the Federal Trade Commission (FTC) has brought suit against several companies in high profile cases, it is in the interest of online retailers to be COPPA compliant. Yet doing so has been challenge in terms of identifying underage shoppers and controlling how they spend on the sites.