oneTXT, a US provider of payments processing platform for social networks, online games and other social media, has launched a social transaction platform for businesses, according to Biz Report.

The Optimised Real-Time Currency Application (ORCA) is a social-commerce transaction processing system which provides companies with the necessary tools for virtual payments processing. Orca also enables businesses to develop functionalities for digital transactions, virtual currency purchases and loyalty programs. Based on an API architecture designed for social media communities and managed by Mashery, a provider of API management services, ORCA is targeting social networks, online games, participation in TV shows and other social media.

In June 2009, oneTXT raised USD 2 million in Series A funding from Metamorphic Ventures with KPG Ventures, and the New York Angels Fund, along with individual investors. oneTXT provides services that enable social media and entertainment companies to accept payments, initiate loyalty programs and send marketing messages without a third party owning the information.