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BizReport : Ecommerce : March 23, 2010

TRUSTe gives gWallet seal of approval

A new partnership in the virtual space could help brands connect with consumers. Social media monetization hub gWallet has partnered with TRUSTe to allow third-party validation on virtual offers. Through the partnership TRUSTe gives their seal of approval to the offers sent by gWallet.

by Kristina Knight

"Our goal [with gWallet] was to provide a safe and transparent environment for advertisers that would let them feel comfortable putting their brands in this new and exciting social gaming space," said Gurbaksh Chahal, Founder and CEO of gWallet.

TRUSTe's privacy seal gives consumers and brands an added layer of safety in online dealings because the seal notes that the offers and information from third parties complies with online best practices. TRUSTe allows its privacy seal to be used only by companies who are certified and who agree to ongoing oversight of their offers.

gWallet's platform allows consumers options in their online transactions, including virtual currency and other payment options. Although consumers are logging on to the Internet to buy and sell goods and increasing rates every day, many are concerned with privacy. By giving consumers options in how they pay for items, brands signal that they care about consumers' privacy as well as the expendable cash consumers use to buy products.

In addition to payment options, a growing consumer base has shown interest in earning virtual cash to be used in the gaming realm. A recent comScore report found that social networkers and gamers are willing to receive marketing messages in exchange for virtual currency.

Tags: gWallet, online payment options, social networks, TRUSTe, virtual currency

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