Blockchain

Latest to Jump on the BitWagon is Digital River Inc

MEDICI

On 16th June 2014, leading global provider Commerce-as-a-Service solutions – Digital River Inc. - 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. 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,” stated Executive VP and GM of commerce at Digital River, Tom Peterson, in a press release. "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," he added.

  • Digital River partnered with San Francisco-based Coinbase, the world’s largest bitcoin wallet and platform provider, to handle the conversion of bitcoin into U.S. dollars and process the payments.
  • 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.

"The payments world is energized by talks of digital currencies. One of the bigger risks faced by merchants is dealing with the volatility of the digital currency market,” said Digital River World Payments' Sr VP and GM, Souheil Badran, in a press release. “Partnering with Coinbase allows Digital River to help mitigate that risk for our customers,” he added.

"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," commented Adam White, director of business development and sales at Coinbase, in the same release. "This partnership is another positive step forward in bringing bitcoin payments to the everyday consumer."

About the company:

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 says that it processed over $30 Bn 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.

MEDICI Team

MEDICI

MEDICI Team is a group of content writers, bloggers, journalists, researchers, and editors from the MEDICI team who collaborate to create FinTech insights.

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