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The Green SheetGreen Sheet

The Green Sheet Online Edition

March 14, 2011 • Issue 11:03:01

New Products

A global e-commerce payment solution

Product: Digital River World Payments
Company: Digital River Inc.

Alternative payment preferences in certain geographic regions have tended to restrict commercial access to large segments of the world's population.

To help e-commerce businesses overcome the many challenges involved with penetrating global markets, Digital River Inc. launched Digital River World Payments, a complete online payment lifecycle management solution.

Founded in 1994 as a provider of e-commerce technology, tools and services for major Internet brands, including e-retailers, online service providers and travel and entertainment enterprises, Digital River expanded with the acquisition of Netgiro in 2007, a company specializing in back-office reconciliation and credit card routing services for acquiring banks globally.

"We've actually run that company as an individual business unit for the last three years," said Paul Bridgewater, Vice President of Digital River World Payments.

"What we've done is we've made the decision to bring our total payment services together with our Netgiro assets and rebrand that as Digital River World Payments to provide an enhanced, global, full-service payment product.

"The whole skill-set about the business is enabling companies to accept and offer the right payment option scheme in their online checkouts with regard to what the consumer preference is based upon where the consumer is located geographically, and then processing those transactions on behalf of those companies, providing consolidative reporting and back-office services and consolidative funds, before sending them back out to the client," he said.

The core

Digital River's online payment lifecycle management strategy operates on five core benefits that focus on revenue growth and cost optimization. "There is a lot of experience that we have around payment program optimization, such as the right payment options, how they're presented, how they're ordered and how you actually interact with the consumer," Bridgewater said.

On the topic of engaging customers with the proper payment instruments, he said, "Credit cards will generally get you 60 or 70 percent of the potential revenue opportunity in a market, but if you want to grab that extra 20 or 30 percent revenue opportunity, you have to be able to support the local payment options."

The five core benefits Digital River provides are:

  1. The payment experience: The payment experience is how e-commerce companies interact with consumers and how they present relevant and valid payment options based upon geographic and demographic influences.

  2. Payment options: Digital River offers relevant payment options in more than 190 countries and over 170 transaction and display currencies.

  3. Risk management: Transaction Defender, Digital River's proprietary, real-time fraud detection service offers protection against potential cyber attacks.

  4. Back-office services: Reporting and reconciliation features provide access to meaningful data for payment managers in e-commerce companies.

  5. Payouts: This core function is how Digital River distributes revenue, as well as transactions, to multiple parties across multiple countries.

Think modular

"Our channel partner program revolves around companies that already provide basic credit card services, like an ISO, and want to add additional alternative payment options into their portfolio, such as fraud solutions, more integration, global tax calculation, and some of the other services and products that are unique within a payment program to be effective," Bridgewater said.

According to Bridgewater, an advantage to merchants is the ability to control and manage payment programs with minimal technical support, which places full control into the payment manager's hands.

Digital River offers three primary e-payment modules: Payment Advance, which provides merchant account services, a customized set of local payment methods and all its core services; Payment Stream, a traditional global payment gateway; and Payment Source, an outsourced payment program that fully manages distribution, reseller services and local payment acceptance.

Digital River Inc.
www.digitalriverpayments.com end of article

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