Digital River Introduces New Automated Online Tax Management Solution for Google Play Store Merchants
Calculates and remits taxes for online Google Play transactions in more than 30 countries
MINNEAPOLIS--(BUSINESS WIRE)-- Digital River, Inc. (DRIV) (NASDAQ: DRIV), the revenue growth experts in global cloud commerce, announced a new online tax management solution for digital content publishers who market and sell apps through the Google Play" Store. The solution acts as a tax manager, working on behalf of the publisher to automatically calculate and remit taxes for online Google Play transactions in more than 30 countries.
Google Play merchants no longer have to go it alone. Rather, Digital River will serve as a local tax expert as well as assume the administrative burden and financial risk associated with being a seller of record for these online transactions, said Joel Ronning, Digital Rivers CEO. Through this new solution, we are unbundling a valuable component of our global e-commerce system and packaging it up with more than 15 years of tax management experience to make it available to Google Play merchants.
With tax regulations changing on a regular basis as well as varying from country-to-country and state-to-state, compliance administration can be a complicated and resource-intensive process. This includes the management of reporting, reconciliation and remittance obligations. In a recent international survey commissioned by Digital River, a group of senior decision makers from several high-tech markets identified some of their most significant global e-commerce challenges. They reported tax and compliance issues as having the highest degree of difficulty with 65 percent of respondents rating it as significantly challenging.
To help address these challenges, Digital Rivers new tax management solution for Google Play includes:
- A simple software development kit (SDK) to broker merchants in-app transactions;
- A plug and play process that automatically downloads transactions into Digital Rivers tax management solution;
- An advanced global tax engine that automatically calculates and remits the correct tax amount for each Google Play transaction to the applicable states and countries;
- End-to-end reporting capabilities that provide details on each Google Play transaction, including the tax calculation and the tax amount remitted to each state and country; and
- Automatic updates to the tax management engine that ensure tax calculations stay current with and reflect changing regulatory obligations.
This modular Google Play tax solution is supported by Digital Rivers global e-commerce infrastructure as well as an integration with an SDK and entitlement engine from Lotaris. Lotaris is a leader in mobile and multi-channel licensing solutions.
About Digital River
Digital River, Inc., the revenue growth experts in global cloud commerce, builds and manages online businesses for software and game publishers, consumer electronics manufacturers, distributors, online retailers and affiliates. Its multi-channel commerce solution, which supports both direct and indirect sales, is designed to help companies of all sizes maximize online revenues as well as reduce the costs and risks of running a global commerce operation. The companys comprehensive platform offers site development and hosting, order management, global payments, cloud-based billing, fraud management, export controls, tax management, physical and digital product fulfillment, multi-lingual customer service, advanced reporting and strategic marketing services.
Founded in 1994, 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, follow the company on Twitter or call +1 952-253-1234.
In addition to the historical information contained herein, this press release contains forward-looking statements, such as statements containing the words, will, plans, intends, expects, and similar words. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Digital River, or industry results, to differ materially from those expressed or implied by such forward-looking statements. Such factors include, among others: Digital Rivers operating history and variability of operating results; competition in the electronic commerce market; the ability of Digital River to support online tax management processes for Google Play merchants; the markets acceptance of such offerings; and other risk factors referenced in Digital Rivers public filings with the Securities and Exchange Commission.
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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Digital River, Inc.
Gerri Dyrek, +1 952-253-1234
Group Vice President, Corporate Communications
Investor Relations Contact:
Ed Merritt, +1 952-225-3362
Vice President, Investor Relations
Source: Digital River, Inc.Copyright Business Wire 2012