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Company profile

Linking customers, merchants and financial institutions since 2000

Beanstream Internet Commerce Inc. has provided payment, risk management and authentication solutions to some of North America’s leading companies and institutions for more than a decade.

In January 2013, Digital River, the revenue growth experts in global cloud commerce, acquired LML Payment Systems and its subsidiaries Beanstream Internet Commerce Inc. and Beanstream Internet Commerce Corp. Digital River trades on the NASDAQ stock exchange under the symbol DRIV. Following the acquisition, the combined companies will handle more than $20 billion in online transactions for tens of thousands of clients across a broad range of industries, including software, consumer electronics, government, utilities, event registration and mobile payments.

Digital River’s Beanstream offices are located in Victoria, British Columbia and Wichita, Kansas.

Company landmarks:

  • In January 2013, Digital River, Inc. (NASDAQ: DRIV), the revenue growth experts in global cloud commerce, announced its acquisition of LML Payment Systems Inc. and its subsidiary Beanstream Internet Commerce Inc.
  • In 2011, Beanstream launches a multi-currency processing platform ensuring support for over 150 currencies and 200 countries. The company is selected as the white-label technology behind First Data’s Canadian eCommerce Solutions and partners with Sage Simply Accounting as the technology provider behind the Sage Direct Payments solution for employee, vendor and customer bank payments.
  • In the spring of 2010, Beanstream Internet Commerce Corp. establishes a full US merchant services program to provide cost-effective, service driven merchant account solutions to American customers to complement the Beanstream solutions already available to clients in the USA.
  • In 2007, Beanstream becomes a wholly owned subsidiary of LML Payment Systems Inc (Nasdaq: LMLP). The company becomes one of the first payment gateways to pilot the new Canadian INTERAC® Online service to provide merchants with an early “debit” alternative to credit card acceptance at their online stores.
  • By the end of 2005, Beanstream has certified to the Vital, Global Payments and Paymentech payment platforms; extending the company’s proprietary payment technology platform to work with the majority of North American credit card merchant services products.
  • In 2003, Beanstream becomes the official technology provider behind the TD Bank Online Mart solution and partners with Simply Accounting for payroll.
  • Beanstream opens its doors in 2000 to serve its first ecommerce clients through a selection of in-house developed payment processing tools, including a variety of simple payment forms, carts and a developer-centered API.
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