KVR Audio

sft234 · Post by **sft234** » Sun Nov 10, 2024 9:21 am

afrozalam wrote: Sat Nov 09, 2024 7:02 am Yes, our problem started from Sept. But we were not aware till last week of October.
Does anyone got any more information or plan to deal with this kind of situation

Well, most have switched to oder MoRs like Cleverbridge, FastSpring, 2checkout, PayPro Global and alike and hope to still receive the owed money somewhen. Some also have refunded all orders back to July and asked customers to re-purchase on the new platform. Finally some also have terminated their MyCommerce account, which however leads into hold of the remaining funds for 180 days as they reported. Some also tried to take legal steps including lawyers, filing a "Mahnbescheid" etc., but imho without any success so far. So it's up to you which road to take...

IaES · Post by **IaES** » Sun Nov 10, 2024 12:33 pm

Gekkolives wrote: Thu Nov 07, 2024 11:38 am I have just been contacted by our lawyers who suspect an announcement that DR is going to go into some form of Bankruptcy is imminent, possibly today or tomorrow . . .
. . . . .

Was anything announced?

Anyone know what the current status is?

jlaako · Post by **jlaako** » Sun Nov 10, 2024 7:50 pm

yps wrote: Fri Nov 08, 2024 9:01 am These rating agencies basically only check the annual reports from the past years, but they have no insight into what's happening during the current year, or what the current balance of their bank accounts is. So if everything is going down the drain real quickly, they won't notice at all.

And latest results available for Digital River GmbH from the company registry are from 2022, which they just delivered there during summer 2024... Which doesn't show any major discrepancies from year 2021...

microjohn · Post by **microjohn** » Mon Nov 11, 2024 2:59 am

I just received August payment, July payment was received on 30th last month.

ccw · Post by **ccw** » Mon Nov 11, 2024 4:23 am

microjohn wrote: Mon Nov 11, 2024 2:59 am I just received August payment, July payment was received on 30th last month.

Really? You are the first one I see online that received the July payment.

7tltd · Post by **7tltd** » Mon Nov 11, 2024 4:25 am

microjohn wrote: Mon Nov 11, 2024 2:59 am I just received August payment, July payment was received on 30th last month.

Did you refund?

sft234 · Post by **sft234** » Mon Nov 11, 2024 5:18 am

microjohn wrote: Mon Nov 11, 2024 2:59 am I just received August payment, July payment was received on 30th last month.

Where are you located? Probably in Asia because of the time?

microjohn · Post by **microjohn** » Mon Nov 11, 2024 5:47 am

ccw wrote: Mon Nov 11, 2024 4:23 am Really? You are the first one I see online that received the July payment.

Many people received July payment, I received August payment today.

quikquak · Post by **quikquak** » Mon Nov 11, 2024 2:34 pm

I’m glad some have been blessed with payments.

sft234 · Post by **sft234** » Mon Nov 11, 2024 4:14 pm

August period payment received too today (11.11.) - but no notification email

PSP · Post by **PSP** » Tue Nov 12, 2024 7:02 am

May I ask those who received payments for July and August: When did you stop using the DigitalRiver platform?

We switched to FastSpring on September 6th. We haven’t been paid for July or August, and we still haven’t received the payment report for September from Digital River aka Element5.

Antoni

sft234 · Post by **sft234** » Tue Nov 12, 2024 9:32 am

PSP wrote: Tue Nov 12, 2024 7:02 am May I ask those who received payments for July and August: When did you stop using the DigitalRiver platform?

We switched to FastSpring on September 6th. We haven’t been paid for July or August, and we still haven’t received the payment report for September from Digital River aka Element5.

Antoni

We stopped selling via DR only about two weeks ago (mainly because KYC on the new MoR took longer than expected and adapting to the new structures and features was time consuming as well). DR Due Dilligence filed and confirmed already in June. No refunds done and account not closed. We were speculating on NOT breaking the contracts our side to have a better position in case of a coming lawsuit. And NOT to block the possibility to be able to return to DR in case there's nevertheless no bankruptsy and returning to normal working mode in case things maybe may not work out well with the new MoR (no long-time experience here compared to DR). So the plan was to keep up open all options while minimizing risks. So this in the end maybe was a blessing

For merchants that terminate the account DR holds the money for 180 days, so this was no option anyway. Also no option was to bother customers with mass refunds which would damage reputation.

tsancio · Post by **tsancio** » Tue Nov 12, 2024 1:33 pm

Count me in. Digital River also has not paid us since July.

Gekkolives · Post by **Gekkolives** » Tue Nov 12, 2024 2:09 pm

Removed.

ptnd691 · Post by **ptnd691** » Wed Nov 13, 2024 5:01 am

>Also no option was to bother customers with mass refunds which would damage reputation

We reached out to all clients refunded, explained the situation in detail, and offered a discount to compensate them for their time. The article in The Register was helpful in clarifying the context. Some clients requested additional information. This issue is entirely due to DR's fault, so there's no risk of reputational damage for us as vendors.

Rallying Vendors Affected by Digital River Payment Issues for a Class Action Lawsuit