LONDON and MINNEAPOLIS – Sept. 18, 2013 – Digital River (NASDAQ: DRIV), through its Digital River World Payments solution, has expanded its Value Added Tax (VAT) management capabilities by partnering with Meridian Global Services, an organisation that assists merchants with their international VAT compliance, remittance and related needs. Digital River has long provided VAT calculation and collection capabilities as part of its global commerce solution. Now, by working with Meridian, Digital River can extend its VAT advisory and remittance capabilities as a companion offering to its Digital River World Payments solution. The joint offering provides cross-border merchants access to both global online payments and VAT compliance solutions.
The technology combination benefits merchants by breaking down barriers that prevent them from maximising their overseas selling opportunities. While the Digital River World Payments solution enables merchants to cater to local preferences with regionally preferred payment options and purchasing experiences, Meridian’s solution helps merchants manage the back-office operations of VAT compliance, which go hand-in-hand with global transactions. Tight coordination across these functions can lead to a notable uplift in successful cross-border sales.
“By teaming up with Meridian, we can help merchants comply with a variety of local payment processes and complex tax requirements so they can expand into international markets more quickly and with less risk than they can on their own,” said Souheil Badran, Digital River’s senior vice president and general manager of Digital River World Payments. “We intend to continue to expand our ecosystem of best-of-breed payments partners to offer our customers even greater choice and more flexibility in building out their global payments programs.”
Through its global payment solution, Digital River offers online merchants more than 180 international and local payment options, and over 170 transaction and display currencies. In addition, the company has handled more than $25 billion in online transactions through its payment solutions during the last 12 months.
“We are excited to partner with a global player like Digital River World Payments. Meridian works with some of the world’s largest and fastest growing e-commerce companies to help their merchants succeed when accessing new markets,” said Derek O’Brien, group head of marketing at Meridian Global Services. “This partnership will assist merchants in expanding overseas and reaching new customers, all the while ensuring they are VAT compliant in the process, both from a local invoicing and return compliance perspective.”
To learn more about the companies’ joint solutions, merchants can pre-schedule meetings at the National Retail Federation (NRF) shop.org Annual Summit taking place in Chicago, Illinois, from Sept. 30 – Oct. 2, 2013.
Digital River World Payments features a wide range of customizable services for managing the complete payment lifecycle. These services, which work through a single payments connection, include checkout page optimization, A/B testing, real-time fraud detection, solutions to manage PCI exposure and currency risk, as well as advanced back-office reconciliation services and business intelligence tools. To learn more about Digital River World Payments, visit Digital River and follow @DigitalRiverInc on Twitter.
About Digital River
Digital River, Inc. builds and manages online businesses for software and game publishers, consumer electronics manufacturers, distributors, online retailers and affiliates. Its multi-channel 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 a global commerce operation. The company’s comprehensive platform offers site development and hosting, order management, global payments, cloud-based billing, fraud management, export controls, physical and digital product fulfillment, multi-lingual customer service, advanced reporting and strategic marketing services.
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, follow the company on Twitter or call +1 952-253-1234.
About Meridian Global Services
Meridian Global Services’ core business is focused on providing a range of international VAT compliance and consulting services to over 15,000 clients worldwide. We utilise our global footprint, our deep industry expertise and our leading edge technologies for optimal results. Our long lasting client relationships lays testament to why we are repeatedly chosen by the world’s most successful organisations, comprising of over 50 percent of the CAC 40, DAX, FTSE 100, Nikkei 225 and Fortune 500.
Meridian provides VAT filing services to many large blue-chip multinationals that have entrusted us with managing multiple registrations covering a range of their international VAT returns. It is our expertise in International VAT that our clients value.
Founded in 1993, Meridian Global Services is headquartered in Dublin, Ireland with offices across the U.S., Europe and Asia.
Click here for more details about Meridian Global Services, follow the company on Twitter @MeridianVAT or call + 353 1 400 690.
In addition to the historical information contained herein, this press release contains forward-looking statements, such as statements containing the words, “will,” “plans,” “intends,” “expects,” and similar words. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Digital River, or industry results, to differ materially from those expressed or implied by such forward-looking statements. Such factors include, among others: Digital River’s operating history and variability of operating results; competition in the electronic commerce and payments markets; the ability of Digital River to support its partnership with Meridian Global Services; the market’s acceptance of such offerings; and other risk factors referenced in Digital River’s public filings with the Securities and Exchange Commission.
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