Selected for its SEPA compliance and authorization rate initiative
MINNEAPOLIS – Sept. 8, 2014 – Digital River, Inc. (NASDAQ: DRIV), a leading global provider of Commerce-as-a-Service solutions, today announced it was nominated by FStech and Retail Systems for two 2014 Payments Awards – Compliance Project of the Year and Online Technology Provider of the Year. The FStech and Retail Systems Payments Awards recognise companies, individuals and organisations that have implemented outstanding payments initiatives or projects during the past year. Award winners will be announced at an awards gala dinner on Nov. 20, 2014, at the Grosvenor House Hotel in London.
Ensuring global regulatory compliance is a key part of the value proposition that Digital River delivers to its clients each day. Digital River was nominated for FStech and Retail Systems’ Compliance Project of the Year award based on its Single Euro Payments Area (SEPA) compliance initiative. The company worked diligently to achieve SEPA compliance ahead of the international deadline and enabled consumers to continue their online subscriptions without interruptions while the change to the new banking formats seamlessly happened in the background. SEPA is a payment integration initiative originated by the European Commission that requires the standardization and simplification of payments within the Euro zone.
FStech and Retail Systems also recognised Digital River as a nominee for its Online Technology Provider of the Year award. Digital River was selected for implementing a series of strategic product improvements that resulted in a more than 20 percent increase in authorization rates for online subscriptions. The enhancements drove a recognisable increase in revenue for the company’s global client base.
“We are honored to be recognised among the industry’s leading payments providers,” said Souheil Badran, senior vice president and general manager of Digital River World Payments. “We are committed to continuing to invest in innovative initiatives that help our clients conduct commerce with less risk to their business and brand – and the added assurance that they are delivering the best possible experience for their customers.”
In 2013, Digital River processed more than $30 billion dollars in online transactions across more than 240 countries and territories. 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 www.digitalriver.com, read Digital River Blog and follow @DigitalRiverInc on Twitter.
About FStech/Retail Systems Payments Awards
The FStech/Retail Systems Payments Awards recognise cards and payments excellence and technology innovation. Winning entries come from those companies, individuals and organisations who have implemented the most outstanding payments initiatives or projects during the past year. The awards provide an evening of networking with hundreds of the biggest names in the payments industry.
About Digital River, Inc.
Backed by 20 years of ecommerce experience, Digital River is recognized as a leading global provider of Commerce-as-a-Service solutions. Companies of all sizes rely on Digital River’s multi-tenant, SaaS commerce, payments and marketing services to manage and grow their online businesses. In 2013, Digital River processed more than $30 billion in online transactions, connecting B2B and B2C digital products and cloud service companies as well as branded manufacturers with buyers across multiple devices and channels, and nearly every country in the world.
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, read the Digital River Blog, follow the company on Twitter or call +1 952-253-1234.