Makes bitcoin available as part of its global commerce solution for small to midsized businesses selling online in the U.S.
MINNEAPOLIS – June 16, 2014 – Digital River, Inc. (NASDAQ: DRIV), a leading global provider of Commerce-as-a-Service solutions, today announced it has added bitcoin as a payment option for merchants that are selling online in the United States and using its small to mid-sized commerce solution. Bitcoin will now be available along with other international payment options, such as credit and debit cards, wire transfers, bank transfers and third-party wallets.
“Bitcoin continues to attract more mainstream attention,” said Tom Peterson, executive vice president and general manager of commerce at Digital River. “We’re excited to be among the first pure play ecommerce providers to make the cryptocurrency available for small to mid-sized businesses interested in providing their online shoppers more payment choices and added convenience.
“Because Digital River acts as the merchant- and seller-of-record, our international base of customers can accept and process bitcoin payments in their U.S. online stores with less risk than they could on their own,” added Peterson. “In addition, this business model creates an opportunity for our customers to offer payment solutions that may be in earlier stages of adoption in their domestic markets.”
Digital River partnered with San Francisco-based Coinbase, a bitcoin wallet and platform provider, to handle the conversion of bitcoin into U.S. dollars and process the payments. “The payments world is energized by talks of digital currencies,” said Souheil Badran, Digital River World Payments’ senior vice president and general manager. “One of the bigger risks faced by merchants is dealing with the volatility of the digital currency market. Partnering with Coinbase allows Digital River to help mitigate that risk for our customers.”
“With Digital River’s expertise in the global commerce and payments industry, we’re proud to support the extension of their payment options for small to mid-sized businesses,” said Adam White, director of business development and sales at Coinbase. “This partnership is another positive step forward in bringing bitcoin payments to the everyday consumer.”
Digital River’s small to mid-sized ecommerce solution provides online merchants with multiple platforms and tools to successfully build, manage and grow profitable ebusinesses on a worldwide basis. Priced affordably, the solution is based on a do-it-yourself ecommerce model with short click-through contracts, global ecommerce features and customizable e-store set-up options.
For more information and to get started accepting bitcoin, please visit our self-service page.
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.
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 bitcoin payments on its SMB commerce platform in the United States; the market’s acceptance of such offerings; and other risk factors referenced in Digital River’s public filings with the Securities and Exchange Commission.
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