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Beanstream online payment system


Updated on October 21, 2009
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General Information

Beanstream is a wholly owned subsidiary of LML Payment Systems Corp, a Canadian company which is traded on the NASDAQ stock exchange under the symbol LMLP. Based in Victoria, British Columbia, Canada, Beanstream provides payment, risk management and authentication services to more than 6000 businesses and organizations in Canada and the United States. Our client list includes the leading businesses and organizations in every merchant sector in the country in addition to many small and mid-sized businesses.


We link merchants selling products or services, customers wanting to buy them, and financial institutions that transfer funds allowing transactions to take place. In seconds we can process Mastercard, Visa, American Express, Diners, JCB, Discover and a host of private label credit cards on behalf of any Canadian and most American merchant card issuers. We also provide payment and authentication services to traditional bricks and mortar merchants who want to use the Internet as a cost effective means of communicating with their bank or credit reporting agency, and to extend the functionality and convenience of their existing products.



multicurrency processing now - and of course Canadian dollars

Countries of use

Canada, US




Consider the following chart as an example. Assume that the sample merchant processes 100 transactions per month and that each transaction has an average value of $100. Also assume that the lack of any risk management capability adds 250 basis points (2.5%) to the cost of doing business.

Manual Processing Electronic Processing
Clerk @ $10 / hr 20 transactions per hour $50 $.25 per transaction $25
Unscreened chargeback rate of 3% $300 Screened chargeback rate of 0.25% $25
Chargeback fees ($25 per chargeback) $75 Chargeback fees ($25 per chargeback) $6.25
Total $425/month   $56.25/month

These figures assume a 100% accuracy rate in manual data entry and further assumes that no transactions are lost due to orders that are delayed in processing. It also assumes that terminal and bank fees are the same for both examples.

Integration approaches


Information for developers

Join with other e-commerce solution providers in becoming a member of one of our partner programs. With experience in payment, authentication and risk management services, Beanstream offers technical and consulting expertise, market development assistance and a wide range of business opportunities for you to provide to your clients.

If you have a business that works with customers who require payment processing, risk management, or authentication services then we want to work with you. Partnering with Beanstream will add value to your existing product mix and increase your revenue opportunities.

Beanstream offers two programs for our partners.

To accept credit card purchases over the Internet you require an Internet merchant account. You will need a separate Internet merchant account for each type of credit card you want to accept and for each currency you want to settle in.

If you have a retail store and already have retail merchant accounts, you still need to obtain new Internet merchant accounts for processing payments received over the Internet.

To begin the sign-up process for Beanstream's credit card processing services, Interac Online, and/or authentication services click continue.


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