Divido and Digital River to Help Ecommerce Brands Increase Revenue through Retail Finance
LONDON & MINNEAPOLIS–(BUSINESS WIRE)–Divido, a retail finance platform based in the U.K., and Digital River, Inc., a leading global provider of Commerce-as-a-Service solutions, have today jointly announced their payments partnership. The global partnership provides a solution that enables Digital River’s global ecommerce clients to offer instant finance to their online customers.
Creating a memorable and effortless shopping experience is key in today’s rapidly changing commerce landscape. One way that brands can cater to this demand is by offering a retail finance payment option, which enables customers to pay for online purchases over time, interest-free. A recent survey of 2,500 Divido customers revealed that 40 percent of shoppers wouldn’t have purchased their item if retail finance hadn’t been offered as a payment option, whilst 18 percent would have purchased a less expensive alternative, reducing the brand’s average order value.
Divido works with merchants, banks and intermediaries to offer this flexible financing to consumers at the point of sale. The solution supports brands at every stage of the sales process from attracting new customers and boosting conversion rates to increasing average order values. By partnering with Divido, Digital River can offer the finance solution to its wide range of global ecommerce clients, enabling them to provide the online payment option for shoppers purchasing items with high price points. For brands that implement the solution, their customers can see a full breakdown of their finance offering, receive credit approval and complete the online transaction in just minutes.
A joint client, who is a global innovator in smart mobile devices and technology, has already experienced a 166 percent uplift in its ecommerce conversion rates since implementing Divido’s finance platform. Moving forward, all of Digital River’s high-tech ecommerce clients serving shoppers in the U.K. and Germany will be able to integrate the finance platform into their customer checkout process.
“Divido’s leading technology allows global companies to offer its solution to customers across the world through just one simple integration,” explained Christer Holloman, CEO and co-founder of Divido. “This one-time plug-in enables Digital River to leverage our solution across multiple currencies and geographies. The speed to implement our seamless finance solution is one of many reasons why Digital River chose to partner with Divido and extend the solution to their global clients.”
“Consumers are increasingly looking for flexibility and control in how they pay online, particularly for high-ticket items,” commented Eric Christensen, vice president of product – payments, fraud and financial services for Digital River. “Our partnership with Divido gives our global ecommerce clients the ability to offer a new payment option that can help them increase customer loyalty and reach a larger customer demographic. As the payments landscape continues to evolve, we are committed to providing best-in-class solutions to help our clients meet changing market demands.”
While currently available in the U.K., Germany and the Nordics, Divido will offer its unique finance platform to eight new countries next year in order to expand global coverage for its merchants and partners, including Digital River.
About Digital River, Inc.
With nearly 25 years of industry experience, Digital River has mastered the ins and outs of global ecommerce. The company specializes in taking high-tech brands direct to their customers, whether they live around the corner or around the world.
Leading software and services, consumer electronics and digital game brands rely on Digital River’s advanced commerce cloud, monetization tools and global ecommerce solutions to market and sell their products online. From start to finish, Digital River makes it easy to manage storefronts, take orders, process payments, automate subscriptions and drive delivery. At the same time, the company works behind the scenes to handle fraud, billing, taxes and compliance, so businesses and consumers can shop with confidence and peace of mind.
Digital River is headquartered in Minneapolis with offices across the U.S., Asia, Europe and South America. For more details about Digital River, visit the corporate website, read the Digital River Blog, follow the company on Twitter or call +1 952-253-1234.
Divido is a retail finance platform that allows companies to offer instant customer finance. This drives conversion at every stage of the purchasing funnel; attracting new customers, increasing sales and raising average order values. More than 500 merchants, banks and partners are working with Divido including BMW, BNP Paribas and Mastercard.
Through one integration, Divido connects multiple competing lenders, delivering high accept rates and low fees. The platform is also omni-channel, available online, in-store and via mobile, and works across multiple countries.
Backed by the investors and people behind Skype, WorldPay and TransferWise, Divido has been recognised by Google, Forrester and the U.K. Government as leading innovation in the retail and finance industries. To learn more about Divido, visit divido.com.
Digital River is a registered trademark of Digital River, Inc. All other company and product names are trademarks, registrations or copyrights of their respective owners.
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