Virtual Piggy Inc. (OTCBB: VPIG) has executed a Memorandum of Understanding (MOU) with ROK Mobile, a provider of innovative telephone and technology services, to include Virtual Piggy´s new peer-to-peer mobile payment system OINK as part of ROK´s offering, the company said.
The MOU also explore the use of Virtual Piggy in ROK´s European markets. ROK Mobile recently announced the release of its new low radiation phone ROKiT 1 developed using proprietary NASA technology.
The ROKiT is a low radiation smartphone with plans to utilize a NASA-developed electromagnetic radiation shielding material originally developed for space applications. The intent is to minimize potentially dangerous radiation exposure that recent studies indicate may cause harmful lasting effects.
The agreement explores a joint program to increase distribution capability through partnerships that Virtual Piggy is currently developing in the inter-scholastic competitive sports market and through major retail chains.
Based in Palm Beach, Florida, Virtual Piggy Inc. holds three technology patents, US Patent No. 8,762,230, 8,650,621 and 8,812,395.