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Digital River (NASDAQ:
DRIV), through its Digital River World Payments solution, has expanded its Value Added Tax (VAT) management capabilities by partnering with Meridian Global Services, an organisation that assists merchants with their international VAT compliance, remittance and related needs. Digital River has long provided VAT calculation and collection capabilities as part of its global commerce solution. Now, by working with Meridian, Digital River can extend its VAT advisory and remittance capabilities as a companion offering to its Digital River World Payments solution. The joint offering provides cross-border merchants access to both global online payments and VAT compliance solutions.
The technology combination benefits merchants by breaking down barriers that prevent them from maximising their overseas selling opportunities. While the Digital River World Payments solution enables merchants to cater to local preferences with regionally preferred payment options and purchasing experiences, Meridian’s solution helps merchants manage the back-office operations of VAT compliance, which go hand-in-hand with global transactions. Tight coordination across these functions can lead to a notable uplift in successful cross-border sales.
“By teaming up with Meridian, we can help merchants comply with a variety of local payment processes and complex tax requirements so they can expand into international markets more quickly and with less risk than they can on their own,” said Souheil Badran, Digital River’s senior vice president and general manager of Digital River World Payments. “We intend to continue to expand our ecosystem of best-of-breed payments partners to offer our customers even greater choice and more flexibility in building out their global payments programs.”
Through its global payment solution, Digital River offers online merchants more than 180 international and local payment options, and over 170 transaction and display currencies. In addition, the company has handled more than $25 billion in online transactions through its payment solutions during the last 12 months.