Adds PayPal Express Checkout and Bill Me Later® to offer more customer payment alternatives and simplify the checkout process
MINNEAPOLIS – Oct. 7, 2013 – Digital River, Inc. (NASDAQ: DRIV) expanded its relationship with PayPal, a company that provides a faster, safer way to pay and get paid online. In addition to being certified as a PayPal provider, Digital River has added PayPal Express Checkout and Bill Me Later to its existing PayPal portfolio. The new payments represent the first in a series of PayPal options that Digital River will make available to its commerce customers. These options enhance Digital River’s current payment offering, which today supports more than 40 international and local payment options in more than 170 currencies.
PayPal Express Checkout minimizes the number of steps buyers must complete in the online checkout process and improves the customer experience by allowing them to remain on the merchant’s website after making a purchase. By simplifying the checkout process for their customers and eliminating the need for customers to enter personal details such as shipping, billing, or payment information, merchants can help reduce cart abandonment and improve conversion rates.
Bill Me Later is a PayPal service that enables online shoppers to buy now and pay later. Upon approval, buyers can use this payment option as a secure, instant and reusable credit line. By offering this payment option, Digital River can help its customers streamline the buying experience and increase close ratios by making higher priced products more affordable for an average consumer.
“Consumers are more apt to buy and buy more when there are convenient and simple paths to the payment button. Adding these alternative payment options by PayPal enables us to help our clients further increase revenues,” said Souheil Badran, senior vice president and general manager, global payments and commerce at Digital River. “We look forward to further expanding our relationship with our clients and offering their customers additional payment options from PayPal – a strong, globally recognized brand that they know and trust.”
"We value our long-term payments relationship with Digital River and are excited to expand this relationship with their implementation of Bill Me Later and Express Checkout,” said Eddie Davis, senior director at PayPal. “Digital River plays an important role in the e-commerce ecosystem and our ability to extend the reach of our latest payment options across the globe, reaching a consumer base with a propensity to purchase online.”
About Digital River, Inc.
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, tax management, 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.
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 market; the ability of Digital River to support the PayPal partnership; the market’s acceptance of such offerings; and other risk factors referenced in Digital River’s public filings with the Securities and Exchange Commission.
Digital River is a registered trademark of Digital River, Inc. All other company and product names are trademarks, registrations or copyrights of their respective owners.
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