“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 method 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 method 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 commonl 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 commonl Read this Term in their U.S. online stores with less risk than they could on their own.”

(More on the deal and PSP's at Payment Magnates)