Digital River Opens Unbanked Market to its E-Commerce Merchants

April 1, 2013

E-commerce platform provider Digital River on Thursday made it easier for consumers without a credit or debit card to buy online when it announced merchants using its enterprise e-commerce solution can offer paysafecard as an online payment method. Paysafecard enables consumers to purchase a virtual voucher with cash at 450,000 retail locations in 33 countries around the world and use the vouchers at e-commerce websites. The deal enables Digital River to offer a way for its merchants to access a market that is difficult for e-commerce retailers to reach and allows paysafecard to bolster its presence in the U.S., according to Michael Mueller, CEO of paysafecard.

“By adding paysafecard to Digital River’s e-payments portfolio, we can help them service an untapped demographic of consumers while increasing our exposure among games and software companies—core verticals where Digital River has established market leadership,” said Mueller. “In 2012, paysafecard processed more than 55 million transactions. In 2013, one of our key goals is to increase that number by strengthening our footprint in the U.S., deepening our coverage in industries where we already have a presence and expanding into new markets.”