Playspan acquires Spare Change

Mumbai, Apr 22 (ANI/Business Wire India): PlaySpan, the leader in monetization solutions for online games, virtual worlds, and social networks, today announced it has entered into an agreement to acquire Spare Change, the first and largest micropayments solution on social networks whose platform enables buyers and sellers to transact safely, easily and inexpensively.

The acquisition further solidifies PlaySpan's global leadership position in monetization of social networks, online games and virtual worlds.

The combination of Spare Change, PayByCash, Ultimate Game Card, and Ultimate Points creates an impressive and unequaled microtransactions and micropayments solutions provider for developers and users worldwide that includes over 80 payment methods covering 190 countries.

Spare Change increases PlaySpan's ability to target the emerging social networking space and further enable millions of consumers worldwide the ability to purchase premium content and virtual goods from online games and virtual worlds.

"Spare Change was designed specifically for social networks, so it complements our existing monetization platform for online games and virtual worlds," said Karl Mehta, Founder and CEO of PlaySpan.

"Combining Spare Change's fast growing user base with our deep operational experience and trusted brands provides a one stop monetization solution for our developers and publisher partners worldwide. In addition, its founders, Lex Bayer, Simon Ru, and Mark Rose have impressive social network monetization experience that will complement our management team and add significant value to our clients and end users. We are very excited to add Spare Change to the PlaySpan platform," Mehta added.

"Spare Change is based on the simple principle of making small payments safe and convenient for consumers and application developers alike," said Lex Bayer, Co-Founder and CEO of Spare Change.

"Our platform has processed millions of transactions for over one million customers and 700 apps across Facebook, MySpace, and Bebo. Combining forces with PlaySpan feels like a natural fit, and the team is absolutely thrilled to have joined the industry leader in the online games monetization space," added Bayer. (ANI)