NEW PAYMENTS PRODUCT "BILLS PARENTS".(IdeaEdge Inc.)

The San Diego payments technology vendor IdeaEdge Inc. is preparing to introduce BillMyParents, a service that would let children shop online and then route the bill to a parent for approval, according to a report in American Banker, a CardLine sister publication. The company, which does business as Socialwise Inc., said the service lets families give kids the freedom to make their own choices but without the responsibility of having payment cards. Other payment providers have tried to empower children to shop online but Jim Collas, president and CEO of IdeaEdge, says his service differs because the other providers required parents to set up the account. "The real key here is …