MINNEAPOLIS – July 20, 2011 – Digital River, Inc. (NASDAQ: DRIV), a leading provider of global e-commerce solutions, announced that its Digital River® World Payments™ solution has received an approved payment institute license in accordance with the European Commission’s Payment Services Directive (PSD) regulatory initiative. The PSD regulatory initiative provides a recognized set of rules for all payment services in the European Union (EU) to make cross-border payments easy, efficient and secure for consumers. The European Commission grants PSD licenses to payment service companies who comply with a distinct set of compliance requirements. The Digital River World Payments solution was granted a PSD license by the Swedish Financial Supervisory Authority.
“Receiving the PSD license further strengthens Digital River World Payments’ market leadership position,” said Souheil Badran, senior vice president and general manager of Digital River World Payments. “The PSD license combined with Digital River’s more than 15-years of payments experience and industry-leading fraud technologies reinforces Digital River World Payments’ standing as one of the most trustworthy payment solutions available in the EU.”
The Digital River World Payments solution – part of Digital River’s comprehensive portfolio of global e-commerce services – enables online merchants to manage the entire payment lifecycle through a single connection to multiple payment services. These services include checkout page optimization, real-time fraud detection, solutions to manage PCI exposure and currency risk, as well as advanced back-office reconciliation services and business intelligence tools. Digital River World Payments offers local and relevant payment options in more than 190 countries and over 170 transaction and display currencies. To learn more about Digital River’s full-service global and domestic payments programs, visit the Digital River World Payments website.
About Digital River
Digital River, Inc., a leading provider of global e-commerce solutions, builds and manages online businesses for software and game publishers, consumer electronics manufacturers, distributors, online retailers and affiliates. Its multi-channel e-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 an e-commerce operation. The company’s comprehensive platform offers site development and hosting, order management, 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.