MINNEAPOLIS — July 14, 2011 — Digital River, Inc. (NASDAQ: DRIV), a leading provider of global e-commerce solutions, today announced the appointment of Souheil Badran as senior vice president and general manager of Digital River World Payments. In this newly created role, Badran, who has more than 20 years of international e-commerce and payments experience, is responsible for providing leadership and strategic direction to drive business growth across the Digital River® World Paymentsâ„¢ product portfolio.
“Backed by more than 15 years of experience running e-commerce businesses for thousands of companies, Digital River has developed a reputation as a leader in handling online payments on a global basis,” said Joel Ronning, Digital River’s CEO. “Through the Digital River World Payments solution, we are now making our payment services available on a stand-alone basis for companies from any industry looking to grow their online business. Souheil’s deep industry experience and leadership skills will help us further leverage this competitive advantage and accelerate the growth of our payments business.”
Badran’s professional background includes extensive experience in international markets and the management of e-commerce, payments, fraud prevention, cash management and card processing organizations. He joins Digital River from First Data Corporation, a global leader in e-commerce and payment processing, where he served as senior vice president and general manager of the E-Commerce Solutions Division. Prior to First Data, he held leadership positions with companies such as VeriSign, Inc., Digital Insight Corporation and Metavante Corporation, now part of FIS.
“Leading global brands from many vertical markets rely on Digital River to help build and grow profitable cross border online businesses. I am excited to join a team globally recognized for its experience, expertise and technology, and help our clients transform their payments programs from cost centers to revenue streams,” said Badran.
The Digital River World Payments solution enables online merchants to manage the entire payment lifecycle through a single connection to multiple payment services. These services 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 offers local and relevant payment options in more than 190 countries and over 170 transaction and display currencies. To learn more about Digital River’s full-service global and domestic payments programs, visit the Digital River World Payments website.
About Digital River, Inc.
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, follow the company on Twitter or call +1 952-253-1234.
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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