In its second-largest acquisition, Amazon buys the company for $970 million.
Digital River World Payments enables online merchants to manage the entire payment lifecycle through a single connection to a payment gateway, merchant account services or fully outsourced payment programs.
MINNEAPOLIS –- Digital River, Inc. (NASDAQ: DRIV), a leading provider of global e-commerce solutions, introduced a comprehensive stand-alone global e-payments solution for online merchants in markets, including e-retail, travel and entertainment, and online services. Designed to increase revenue and customer lifetime value, Digital River® World Payments™ enables online merchants to manage the entire payment lifecycle through a single connection to a payment gateway, merchant account services or fully outsourced payment programs.
“For more than 15 years, some of the world’s leading brands have relied on Digital River to manage and grow their online businesses on a global basis. This year alone, we expect to process more than $8 billion in online transactions,” said Digital River CEO Joel Ronning. “Now we are taking our proven payments expertise and technologies and creating a holistic package of services that can be purchased, tailored and used on a stand-alone basis to meet a company’s strategic payments goals. From the customer experience on the checkout page to payouts, Digital River World Payments is designed to reduce the risk and costs of online commerce while ensuring the revenue rewards.”
Digital River World Payments offers relevant payment options in more than 190 countries and over 170 transaction and display currencies. The e-payments solution is built based on a modular approach, offering three primary payment programs:
- Payment Advance: A payments program that combines merchant account services with a customized set of local payment methods, real-time fraud detection, back office solutions and check out optimization services.
- Payment Stream: A traditional payment gateway service that simplifies global connectivity.
- Payment Source: A comprehensive outsourced payments program designed to accelerate global expansion through fully-managed distribution and reseller services as well as local payment acceptance.
These programs can be used alone, together, or paired with other added value offerings to optimize the customer’s payment experience and improve the merchant’s profitability. These offerings include checkout page optimization, real-time fraud detection, solutions to manage PCI exposure and currency risk, as well as advanced back-office reconciliation services and business intelligence tools.
Digital River World Payments represents an expanded package of technologies and innovative services from Digital River and its global payments provider, Netgiro. World Payments combines the payment features associated with Digital River’s core enterprise e-commerce solution – including its proven checkout optimization and risk management programs – with Netgiro’s advanced gateway, back office services and vertical market focus. Digital River acquired Netgiro in 2007. Netgiro and Digital River offer 15 years of experience operating global online payments programs.
“As part of Digital River’s core business strategy, we have been investing in and advancing our payment services and banking relationships on a global basis,” said Ronning. “With the launch of Digital River World Payments, we are taking the next natural step in extending our leadership presence in the payments space. We intend to use this opportunity to accelerate our business growth in a variety of vertical markets, including e-retail, travel and entertainment, and online services.”
To introduce its World Payments solution and discuss new ways to increase payment program profitability, Digital River is holding a webinar on Monday, Nov. 15, 2010, from 10:00 a.m. – 11:00 a.m. CST. To register for the webinar, go to https://www3.gotomeeting.com/register/383227038. More information about Digital River World Payments can be found at www.digitalriverpayments.com.
About Digital River
Digital River, Inc., a leading provider of global e-commerce solutions, builds and manages online businesses for software and game publishers, consumer electronics manufacturers, distributors, online retailers and affiliates. Its multi-channel e-commerce solution, which supports both direct and indirect sales, is designed to help companies of all sizes maximize online revenues as well as reduce the costs and risks of running an e-commerce operation. The company’s comprehensive platform offers site development and hosting, order management, fraud management, export controls, tax management, physical and digital product fulfillment, multi-lingual customer service, advanced reporting and strategic marketing services.
Founded in 1994, Digital River is headquartered in Minneapolis with offices across the U.S., Asia, Europe and South America. For more details about Digital River, visit the corporate website, call +1 952-253-1234, or follow the company on Twitter.