Digital River World Payments Offers Global Cloud-Based Subscription Billing
Enables global subscription management services to drive recurring revenue for online merchants
MINNEAPOLIS — Jun. 21, 2012 — Digital River, Inc. (NASDAQ: DRIV), the revenue growth experts in global cloud commerce, announced that it enhanced its Digital River® World Paymentsâ„¢ solution to include cloud-based subscription billing. Merchants using the subscription solution through Digital River World Payments can increase recurring revenue across global markets as well as optimize the entire payment lifecycle from subscription initiation through the commerce transaction and payment.
Digital River has offered subscriptions as part of its Global Commerceâ„¢ enterprise solution for more than a decade and is now extending that deep experience to the Digital River World Payments solution. The new integrated offering provides merchants access to both global online payment processing and a cloud-based subscription billing service via a single solution, a unique differentiator among competitive subscription solutions. This single solution speeds time-to-market, offers easy entry to global markets and increases customer retention and lifetime value.
Key components of the Digital River World Payments subscription billing solution include:
- Compliance management for subscriptions, localized recurring billing and currency support across global markets;
- Customizable billing models, including subscription plans that can scale to accommodate merchant growth;
- Support during pre-and post-transaction stages of the Digital River World Payments lifecycle, including account updater, risk management, in-house fraud prevention and back office services; and
- Easy-to-use subscription management tools, including simplified user interface screens for intuitive set-up and ongoing management; as well as reporting features designed to optimize the performance of subscriptions programs and renewal rates.
“Subscription billing offers growth opportunities for many companies,” said Paul Larsen, payments consultant and managing partner at Paul Larsen Consulting LLC. “However, merchants can face challenges that are unique to recurring payments, including increased fraud risk and involuntary customer churn caused by declined and expired credit cards. Digital River’s auto renewal capabilities and fraud expertise help address these specific challenges. By taking advantage of Digital River World Payments, which is recognized as a leading solution for payment localization, merchants can more easily manage their subscriptions on a global basis.”
“More merchants are seeking end-to-end subscriptions solutions to meet the complex billing expectations of today’s connected consumers,” said Souheil Badran, senior vice president and general manager of Digital River World Payments. “The addition of our cloud-based subscription solution further strengthens our support of merchants throughout the entire payment and subscription lifecycle. We can now act as the single partner merchants rely on for payment-related services to help them drive continued recurring revenue growth across global markets.”
Merchants interested in learning more about cloud-based subscriptions can register for a complimentary educational webinar entitled, “Subscription Commerce: Learn How to Accelerate Your Online Sales.” The webinar is now open for registration and is being hosted by Digital River as part of its Globalocityâ„¢ Webinar Series.
Jun. 26, 2012, at 7:00 a.m. CDT
Jun. 26, 2012, at 12:00 p.m. CDT
Digital River World Payments offers relevant payment options in nearly every country and over 170 transaction and display currencies. The solution 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, multi-variate 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.digitalriverpayments.com and follow @DigitalRiverPay on Twitter.
About Digital River, Inc.
Digital River, Inc., the revenue growth experts in global cloud commerce, 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.
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.
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 e-commerce operations and cloud-based subscription billing services as part of its Digital River World 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 trademarks and registered trademarks are trademarks of their respective owners.