oneTXT launches virtual goods payment solution

Here's one more way to capture the online marketplace: an online virtual goods payment processor. Online content and payment platform oneTXT has launched ORCA, a social transaction platform which allows businesses in the social marketplace an easy way to pay for real and virtual goods.

by Kristina Knight

ORCA stands for Optimized Real-Time Currency Application. The platform works by giving social businesses a way to create tools to process virtual and real good payments. Marketers can also manage and measure loyalty campaigns, schedule advance orders or real and virtual goods and can send messages to consumers. The platform can target consumers in social networks, online gaming hubs and those who participate in television programs (by voting in reality shows, for example).

Although still in the high-growth stage, virtual goods are quickly becoming a 'must have' for social consumers, especially branded virtual goods. According to virtual goods ad network AdNectar, the market has reached more than $1.5 billion in revenue and is growth at 36% year over year.

Why the strong growth? Because consumers like to give friends gifts; in the online world it is the same, but goods - a drink, a balloon, a hug - are impossible to send over the Internet. Enter virtual goods, which can be delivered quickly and have similar brand power to actual goods.

Tags: AdNectar, oneTXT, ORCA, social marketing, virtual advertising, virtual gifts, virtual goods