“Bitcoin Accepted” Digital River Partners with Coinbase to Offer Digital Currency Payments
Digital River and Coinbase have announced that the two firms are working together to provide bitcoin payment processing to merchants. Under terms of the deal, Digital River, a publicly traded provider Commerce as a Service solution, is integrating Coinbase’s bitcoin payment processing service to its small to mid-sized commerce SWREG solution. Online merchants using SWREG, and selling in the US, will now be able to accept bitcoins along with other existing payment options such as credit cards, bank transfers, and PayPal.
A Payment Service Provider (PSP) Payment Service Provider (PSP) Payment Service Providers (PSPs) helps a wide array of online services for accepting electronic payments via several payment methods. This includes credit cards, wire payments such as direct debit, bank transfers, and real-time bank transfers.A PSP is also able to link up with multiple acquiring banks, card, and payment networks. PSPs can also fully manage these technical connections and relationships with the external network, in essence taking care of the technical processing of payment methods for online shops. This process has become extremely streamlined and makes a given merchant less dependent on financial institutions and free from the task of establishing these connections directly, especially on an international scale. Furthermore, a full-service PSP can offer risk management services for card and bank-based payments, transaction payment matching, reporting, fund remittance and fraud protection in addition to multi-currency functionality and services. Some PSPs provide services to process other next generation methods including cash payments, cryptocurrencies, prepaid cards or others.PSPs are very important to the financial services space as well. Every retail broker needs a payment service provider which delivers to the broker the infrastructure via which it is able to receive payments from its customers. Typically, the broker also necessitates a relationship with an acquiring bank, a merchant, card and payment networks. By using a PSP, the broker can avoid having to deal with a multitude of parties in different regions.Issues Between PSPs and FX Brokers As a result, there has been an ongoing battle between card payments mainstays such as Visa and Mastercard, which have systematically blocked transfers and made brokerages operations increasingly difficult. The speed by which this process has taken place has threatened many brokerage operations and continues to be a major pain point in 2020. Payment Service Providers (PSPs) helps a wide array of online services for accepting electronic payments via several payment methods. This includes credit cards, wire payments such as direct debit, bank transfers, and real-time bank transfers.A PSP is also able to link up with multiple acquiring banks, card, and payment networks. PSPs can also fully manage these technical connections and relationships with the external network, in essence taking care of the technical processing of payment methods for online shops. This process has become extremely streamlined and makes a given merchant less dependent on financial institutions and free from the task of establishing these connections directly, especially on an international scale. Furthermore, a full-service PSP can offer risk management services for card and bank-based payments, transaction payment matching, reporting, fund remittance and fraud protection in addition to multi-currency functionality and services. Some PSPs provide services to process other next generation methods including cash payments, cryptocurrencies, prepaid cards or others.PSPs are very important to the financial services space as well. Every retail broker needs a payment service provider which delivers to the broker the infrastructure via which it is able to receive payments from its customers. Typically, the broker also necessitates a relationship with an acquiring bank, a merchant, card and payment networks. By using a PSP, the broker can avoid having to deal with a multitude of parties in different regions.Issues Between PSPs and FX Brokers As a result, there has been an ongoing battle between card payments mainstays such as Visa and Mastercard, which have systematically blocked transfers and made brokerages operations increasingly difficult. The speed by which this process has taken place has threatened many brokerage operations and continues to be a major pain point in 2020. Read this Term), Digital River acts as the merchant of record between online consumers and acquiring banks. The advantage of such a setup is that it allows Digital River to lump transactions into single relationships with banks and credit card companies. Merchants then partner directly with Digital River without needing to create relationships with each payment provider and banks. As a result, SWREG customers have access to accepting funds for each payment type Digital River offers within one checkout solution.
On the news Tom Peterson, executive vice president and general manager of commerce at Digital River stated, “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.” He added that “Because Digital River acts as the merchant- and seller-of-record, our international base of customers can accept and process bitcoin Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. Read this Term in their U.S. online stores with less risk than they could on their own.”
Digital River and Coinbase have announced that the two firms are working together to provide bitcoin payment processing to merchants. Under terms of the deal, Digital River, a publicly traded provider Commerce as a Service solution, is integrating Coinbase’s bitcoin payment processing service to its small to mid-sized commerce SWREG solution. Online merchants using SWREG, and selling in the US, will now be able to accept bitcoins along with other existing payment options such as credit cards, bank transfers, and PayPal.
A Payment Service Provider (PSP) Payment Service Provider (PSP) Payment Service Providers (PSPs) helps a wide array of online services for accepting electronic payments via several payment methods. This includes credit cards, wire payments such as direct debit, bank transfers, and real-time bank transfers.A PSP is also able to link up with multiple acquiring banks, card, and payment networks. PSPs can also fully manage these technical connections and relationships with the external network, in essence taking care of the technical processing of payment methods for online shops. This process has become extremely streamlined and makes a given merchant less dependent on financial institutions and free from the task of establishing these connections directly, especially on an international scale. Furthermore, a full-service PSP can offer risk management services for card and bank-based payments, transaction payment matching, reporting, fund remittance and fraud protection in addition to multi-currency functionality and services. Some PSPs provide services to process other next generation methods including cash payments, cryptocurrencies, prepaid cards or others.PSPs are very important to the financial services space as well. Every retail broker needs a payment service provider which delivers to the broker the infrastructure via which it is able to receive payments from its customers. Typically, the broker also necessitates a relationship with an acquiring bank, a merchant, card and payment networks. By using a PSP, the broker can avoid having to deal with a multitude of parties in different regions.Issues Between PSPs and FX Brokers As a result, there has been an ongoing battle between card payments mainstays such as Visa and Mastercard, which have systematically blocked transfers and made brokerages operations increasingly difficult. The speed by which this process has taken place has threatened many brokerage operations and continues to be a major pain point in 2020. Payment Service Providers (PSPs) helps a wide array of online services for accepting electronic payments via several payment methods. This includes credit cards, wire payments such as direct debit, bank transfers, and real-time bank transfers.A PSP is also able to link up with multiple acquiring banks, card, and payment networks. PSPs can also fully manage these technical connections and relationships with the external network, in essence taking care of the technical processing of payment methods for online shops. This process has become extremely streamlined and makes a given merchant less dependent on financial institutions and free from the task of establishing these connections directly, especially on an international scale. Furthermore, a full-service PSP can offer risk management services for card and bank-based payments, transaction payment matching, reporting, fund remittance and fraud protection in addition to multi-currency functionality and services. Some PSPs provide services to process other next generation methods including cash payments, cryptocurrencies, prepaid cards or others.PSPs are very important to the financial services space as well. Every retail broker needs a payment service provider which delivers to the broker the infrastructure via which it is able to receive payments from its customers. Typically, the broker also necessitates a relationship with an acquiring bank, a merchant, card and payment networks. By using a PSP, the broker can avoid having to deal with a multitude of parties in different regions.Issues Between PSPs and FX Brokers As a result, there has been an ongoing battle between card payments mainstays such as Visa and Mastercard, which have systematically blocked transfers and made brokerages operations increasingly difficult. The speed by which this process has taken place has threatened many brokerage operations and continues to be a major pain point in 2020. Read this Term), Digital River acts as the merchant of record between online consumers and acquiring banks. The advantage of such a setup is that it allows Digital River to lump transactions into single relationships with banks and credit card companies. Merchants then partner directly with Digital River without needing to create relationships with each payment provider and banks. As a result, SWREG customers have access to accepting funds for each payment type Digital River offers within one checkout solution.
On the news Tom Peterson, executive vice president and general manager of commerce at Digital River stated, “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.” He added that “Because Digital River acts as the merchant- and seller-of-record, our international base of customers can accept and process bitcoin Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonly the basis of exchange involves fiat currency or legal tender, be it in the form of cash, credit or bank transfers, debit, or checks. While typically associated with cash transfers, payments can also be made in anything of perceived value, be it stock or bartering – though this is far more limited today than it has been in the past.The Largest Players in the Payments IndustryFor most individuals, the payments industry is dominated currently by card companies such as Visa or Mastercard, which facilitate the use of credit or debit expenditures. More recently, this industry has seen the rise of Peer-to-Peer (P2P) payments services, which have gained tremendous traction in Europe, the United States, and Asia, among other continents.One of the biggest parameters for payments is timing, which looms as a crucial element for execution. By this metric, consumer demand incentivizes technology that prioritizes the fastest payment execution.This can help explain the preference for debit and credit payments overtaking check or money orders, which in previous decades were much more commonly utilized. A multi-billion-dollar industry, the payments space has seen some of the most innovation and advances in recent years as companies look to push contactless technology with faster execution times. Read this Term in their U.S. online stores with less risk than they could on their own.”