Digital River’s beanstream and sproutPOS mobile point-of-sale (mPOS) solution will include support for Apple Pay. The mPOS solution will also support magnetic stripe, EMV (chip and PIN) transactions, and contactless credit and debit card payments.
LML has received shareholder approval for the proposed plan of arrangement with Digital River, by which Digital River will acquire all of the issued and outstanding common shares of LML. This in exchange for U.S. $3.45 in cash for each LML Share. Each holder of an option or warrant to acquire LML Shares will receive a cash payment per option or warrant equal to the difference between U.S. $3.45 and the exercise price of the respective option or warrant. Approved by a special resolution of shareholders of LML at the special meeting, the special resolution required affirmative votes from 66 ²/3% of votes cast in person or by proxy by holders of LML Shares. An affirmative vote was cast by 96.34% of shareholders represented in person or by proxy at the Meeting.
Digital River global cloud commerce is set to acquire LML Payment Systems in an all cash transaction for $3.45 per share. Digital River has traditionally focused on online payment processing for enterprise and mid-sized merchants. LML Payment Systems processes online payments for more than 14,000 small to mid-sized merchants. The combination will enable Digital River to broaden its online payment services to businesses of all sizes. Collectively, the companies will handle more than $20 billion in online transactions for tens of thousands of companies across a broad range of industries, including software, consumer electronics, government, utilities, event registration and mobile payments.
LML Payment Systems’ Beanstream Internet Commerce Inc. has begun distribution of an innovative multicurrency, multiprocessor mobile card acceptance product with enhanced credit card swipe technology and cash/check handling capabilities. The Beanstream application puts a unique spin on technology that allows merchants to swipe credit cards directly on their iPhone, iPad, iPod touch and Android devices. With no more than their phone and a small encrypted card reader, merchants can manage card transactions in 150 currencies while consolidating data from cash and check transactions within the same simple application. The product is built on Beanstream’s bank-neutral payment processing platform to ensure businesses can have funds deposited to any preferred North American financial institution.
Givex loyalty and gift card programs across 50 countries worldwide partnered Transacta POS, back office and head office retail systems in Australia, New Zealand and the Asia Pacific, to integrate its SKU (Stock Keeping Unit) Loyalty system with Vision BeanStore POS software. Users of Vision BeanStore PoS now have access to the Givex system for rewarding customers with points, discounts or even free products depending on what’s in their shopping basket.
LML PAYMENT SYSTEMS payments technology provider of financial payment processing solutions for e-commerce posted its fiscal 3Q/11 (4Q/11) revenue of $5,251,000, down from the year ago figure of $11,060,000. Meanwhile, gross profit was $2,236,000 and net income was $265,000. For the quarter, Transaction Payment Processing (TPP) segment revenue increased 22% year over year and 13% sequentially quarter over quarter; all three of its business segments achieve profitability; and the Company added 873 customers for a base of just over 12,000.
Revenue for the nine month period ended December 31, 2011 was $24,233,000 compared to the year ago figure of $22,010,000, gross profit was $12,286,000 and net income was $4,435,000, compared to last years’ net income of $2,762,000. LML Payment Systems through its Canadian subsidiary Beanstream Internet Commerce and its U.S. subsidiaries Beanstream Internet Commerce and LML Payment Systems provides credit card processing, online debit, electronic funds transfer, automated clearinghouse payment processing and authentication services.
LML Payment Systems’ subsidiary Beanstream Internet Commerce has entered into an agreement to provide the web-based transaction processing services behind First Data’s eCommerce products in Canada. Using Beanstream technology, First Data will offer Canadian merchants the ability to accept payments through a variety of online transaction processing tools, including website forms, shopping carts, recurring billing, batch processing, and a virtual terminal for Internet, mail order/telephone order and other non face-to-face processing applications.
Invoicera online invoicing has integrated the Beanstream payment gateway to offer more payment processing options for the merchants who
specifically intend to use Beanstream as their preferred payment gateway.
Beanstream links customers, merchants, and financial institutions and
facilitate electronic transactions. Beanstream provides credit card
processing, recurring billing, electronic funds transfer, automated
clearing house payment processing and authentication services, along
with routing of selected transactions to third party processors and
banks for authorization and settlement and check recovery services .
Beanstream also provide a suite of tools to help in the identification
and reduction of online fraud. Beanstream direct debit and direct
payment services let you to debit and credit bank accounts with minimal
effort.The Beanstream online credit card processing gateway supports Canadian
and US dollar transactions for the most popular credit cards. Meanwhile,
Invoicera online Invoicing software offers its clients business invoicing.
PayProNews a vendor-independent new analysis and research company announces analysis of 25 payment processor companies in 45 different categories. Processor categories include UI-User Interface, Live Chat, Toll Free, Email, BBB-Better Business Bureau, Partner Program, Partners Shown, 7×24 Support, Negative Comments, Testimonials on website, Contract Duration, Cancellation Fee, Seasonal Stop, SERVICES: Retail, Internet, Mobile, ATM, Cashless ATM, Wireless, High Risk/International, POS Hardware, Quickbooks, Payroll, Gift/Loyalty, Recurring, Email, Invoicing, MOTO-mail order â telephone order, Terminal, Microloans, API-Applications, Programming Interface, Twitter/Facebook/LinkedIn, Member PCI Standards Org, Webseminars, Training, Newsletter, Channel Partner Certification, Videos, Blog, WhitePapers, Articles, Case Studies, Consulting, Channel Partner Website Marcom, Glossary, PCI Scanning, Special Notes. The 25 Payment Processor Companies in the PayProViews analysis include Braintree, Beanstream, BigSky, CapitalMerch, CapitalPay, CDG, Dharma, EagleMerchant, Elavon, E-OnlineData, ETI, Frontline, GoEmerchant, Leap, Heartland, Merchant Focus, MerchantPlus, Merchant Ware, Mercury, PaymentMax, PaySimple, PracticePay, ProcessingPoint, Thompson, and TransactionG. We encourage users (merchants/buyers) do their own analysis of their own specific needs. We also encourage providers to contact PayProNews for consideration and as well as updates from existing providers.
nCircle security and compliance auditing solutions has updated its Certified PCI Scan Service to be compliant with the latest PCI DSS requirements for vulnerability scanning. The new version of the nCircle Certified PCI Scan Service includes several new features and updates that make it fully compliant with the new requirements. nCircle has worked directly with the PCI Security Standards Council to drive the PCI Data Security Standard for over four years. The nCircle Certified PCI Scan Service is an automated, self-service solution allowing scanning for Internet-facing payment networks with PCI compliance. Based on technology from nCircleâs award-winning vulnerability management product IP360, the Certified PCI Scan Service provides a highly accurate platform to scan merchant networks for PCI compliance.
LML Patent Corp., a wholly-owned, indirect subsidiary of LML
Payment Systems Inc., announced that PNC Financial Services Group Inc. and PNC Bank N.A. have entered into a Settlement and License Agreement that
provides PNC with a license to LML’s patents for
electronic check conversion transactions including “ARC”, “WEB”, “POP”,
“TEL” and “BOC”. In connection with the Agreement, PNC has agreed to
pay LML compensation in the amount of $1,375,000 for releases,
licenses, covenants and all other rights granted under the Agreement.
LML Payment Systems Inc., through its subsidiaries Beanstream Internet
Commerce Inc. in Canada and LML Payment Systems Corp. in the U.S., is a
leading provider of financial payment processing solutions for
e-commerce and traditional businesses.
nCircle security and compliance auditing launched its “Certified PCI Scan Service” to add significant functionality designed to simplify merchant compliance workflow. The nCircle “Certified PCI Scan Service” is a self-service and highly automated solution that enables anyone to scan their Internet-facing payment network for PCI compliance. It offers automated asset discovery, automating the task of determining systems that are in scope for PCI ASV scanning; annual subscription pricing for greater flexibility to users that prefer more frequent testing; advanced exception management, providing significant time savings for customers with large numbers of PCI assets; and a simplified user interface with the fewest possible clicks.