MINNEAPOLIS — Feb. 24, 2014 — Digital River, Inc. (NASDAQ: DRIV), a leading global provider of Commerce-as-a-Service solutions, announced that it will provide payments solutions for Wix.com (NASDAQ: WIX), a leading web development platform.
Wix.com’s cloud-based technology enables users to create a professional website themselves and manage additional aspects of their business from one cohesive environment. As the solution of choice for over 42 million users in 190 countries, Wix is a market leader in the web publishing industry.
“Wix.com strives to simplify website creation and bring powerful functionalities to small business owners, entrepreneurs, creative professionals and individuals,” said Lior Shemesh, CFO at Wix.com. “When we were selecting a payments provider, we looked for similar attributes — simplicity and powerful technical functionality. We wanted our payments provider to help streamline our payments process and bring advanced global capabilities that easily scale in the markets we are pursuing.”
“In a global online economy, companies can extend their reach and opportunities far beyond domestic markets but they often need to scale to meet international demands,” said Souheil Badran, Digital River’s senior vice president and general manager of Digital River World Payments. “Through Digital River’s technical and banking connections, Wix.com can continue to grow in markets like Mexico, Brazil and Europe, more quickly and cost effectively and with less risk than they could on their own.”
Through Digital River World Payments, Digital River offers online merchants more than 180 international and local payment options, and over 170 transaction and display currencies. In 2013, the company processed more than $30 billion in online transactions.
Digital River recently released a white paper, “Many Ways to Pay: Why Expanding Internationally is Tougher Than It Looks.” Read it to get some insights into the three stages of international online payments expansion.
About Wix.com Ltd.
Wix.com is a leading cloud-based web development platform with over 42 million registered users worldwide, as of December 31, 2013. Wix was founded on the belief that the Internet should be accessible to everyone to develop, create and contribute. Through free and premium subscriptions, Wix empowers millions of businesses, organizations, professionals and individuals to take their businesses, brands and workflow online. The Wix Editor and highly curated App Market enable users to build and manage a fully integrated and dynamic online presence. Wix’s headquarters are in Tel Aviv with offices in San Francisco, New York, Vilnius and Dnepropetrovsk.
About Digital River, Inc.
Backed by 20 years of e-commerce 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, 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 Wix’s global payments solution; 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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