TransCard and Socialwise™ Plan to Revolutionize Prepaid

CHATTANOOGA, Tenn.--(EON: Enhanced Online News)--TransCard – a leading provider of prepaid debit card solutions branded with MasterCard®, Discover® Network and STAR associations – and San Diego-based Socialwise, Inc. (“Socialwise”), a wholly owned subsidiary of ideaEDGE, Inc. (IDEA.OB), are collaborating to offer a prepaid debit card for online gift giving to be released in early 2009.

“It isn’t often that a product or a company comes along with the potential to transform one industry, much less multiple industries”

TransCard has developed a turnkey card program for Socialwise, complete with total platform integration with their internal systems. Along with using TransCard’s technology to perform back-end functions, Socialwise and TransCard will offer a Socialwise-branded prepaid debit card.

“It isn’t often that a product or a company comes along with the potential to transform one industry, much less multiple industries,” says Craig Fuller, CEO of TransCard. “Socialwise intends to impact social networking sites, group gifting, how teens spend money online and, of course, the very concept of prepaid. The TransCard-backed Socialwise card provides greater security for online purchases and is perfect for younger demographics because it is not a credit card. All funds are loaded upfront with no opportunity to overspend or negatively affect the user’s or their parents’ credit. Just as the Internet modernized how we communicate, the Socialwise prepaid card seeks to modernize how we spend money online—as well as outside of the virtual world. This card can go with your kids on field trips, travels abroad and to college. There is no better way to teach kids monetary responsibility, while protecting their financial futures.”

Socialwise is changing the face of the gift-giving industry with unique online applications such as BillMyParents™, which allows parents to safeguard their children’s purchases, and Gimme!, a way to organize group gifting through donating to select gift cards. With the innovative Socialwise Group Gifting Platform, multiple people can contribute to online purchases.

“When we were looking at prepaid partners, TransCard was the one that stood out as being the most innovative and ahead of the curve,” says Jim Collas, CEO at Socialwise. “We needed a company that shared our vision and spirit of ingenuity, as well as one that has technology sophisticated and flexible enough to actually bring our vision to fruition. Now, we believe both of our companies are poised to usher in a new age of prepaid for a new generation of consumers.”

About Socialwise

Socialwise, Inc. combines the explosive growth of targeted online commerce, application development, and group interaction by developing platforms that integrate traditional eCommerce products and services into the latest social network applications such as Gimme!™ and BillMyParents™. Socialwise™ also enables application developers access to its platforms and tools needed to build and integrate eCommerce transactions into their applications. The Company is headquartered at 6440 Lusk Blvd., Suite 200, San Diego, CA 92121 and can be contacted at 858-677-0080 or www.ideaedge.com.

About TransCard

TransCard (www.transcard.com) is a top ten, stored-value processor and a global provider of transaction-based processing services. TransCard has provided stored-value processing services since 1993 and pay card products beginning in 1996. TransCard differentiates itself in the prepaid card industry by offering compliant solutions, real value, proprietary technology, mobile card management and stability. Its products include pay cards, gift reward cards, fleet services and stored-value processing. TransCard handles nearly $2 billion in electronic transactions annually and was recently featured as a “10 to Watch” by Intele-Card News.