Digital River, Inc., a leading global provider of Commerce-as-a-Service solutions,announced it was nominated by FStech and Retail Systems for two 2014 Payments Awards – Compliance Project of the Year and Online Technology Provider of the Year. The FStech and Retail Systems Payments Awards recognise companies, individuals and organisations that have implemented outstanding payments initiatives or projects during the past year. Award winners will be announced at an awards gala dinner on Nov. 20, 2014, at the Grosvenor House Hotel in London.
Ensuring global regulatory compliance is a key part of the value proposition that Digital River delivers to its clients each day. Digital River was nominated for FStech and Retail Systems’ Compliance Project of the Year award based on its Single Euro Payments Area compliance initiative. The company worked diligently to achieve SEPA compliance ahead of the international deadline and enabled consumers to continue their online subscriptions without interruptions while the change to the new banking formats seamlessly happened in the background. SEPA is a payment integration initiative originated by the European Commission that requires the standardization and simplification of payments within the Euro zone.
FStech and Retail Systems also recognised Digital River as a nominee for its Online Technology Provider of the Year award. Digital River was selected for implementing a series of strategic product improvements that resulted in a more than 20 percent increase in authorization rates for online subscriptions. The enhancements drove a recognisable increase in revenue for the company’s global client base.
“We are honored to be recognised among the industry’s leading payments providers,” said Souheil Badran, senior vice president and general manager of Digital River World Payments. “We are committed to continuing to invest in innovative initiatives that help our clients conduct commerce with less risk to their business and brand – and the added assurance that they are delivering the best possible experience for their customers.”
