BEANSTREAM INTERNET COMMERCE INC. CORPORATE ANNOUNCEMENT

BEANSTREAM AND GPAYMENTS OFFER VISA AUTHENTICATED PAYMENT SOLUTION TO CANADIAN BANKS AND MERCHANTS

Beanstream Internet Commerce Inc. (www.beanstream.com), a leading provider of electronic payment and authentication solutions, and GPayments Pty Ltd., a leading smart payment technologies company, today announced plans to offer two additional solutions to Canadian merchants: Verified by Visa and Mastercard Secure Payment Application (SPA). Under this agreement, Beanstream will act as a distributor of GPayments products in Canada.

Verified by Visa, known in the industry as "3-D Secure", and Mastercard SPA are designed to bring the same level of security to the virtual world as Visa and Mastercard have in the physical world. This level of security is achieved by confirming to the e-merchant that the online buyer is the actual cardholder. In addition, cardholders have a greater sense of security when purchasing online knowing that they can use a password to protect their credit card details entered into an online merchant's website.

GPayments offers four different products based on the 3-D Secure and SPA standards. ActiveMerchant is a scalable system that provides 3-D Secure support to merchants and payment gateways. ActiveAccess is a modular authentication system for card issuers supporting both 3-D Secure and SPA in a single solution. ActiveIssuer is a management system for card issuers, which provides cardholder enrolment, customer relationship management and advertising management. ActiveCheckout is an applet that card issuers can distribute to cardholders for support of SPA.

"We evaluated a number of 3-D Secure and SPA products before choosing to partner with GPayments", said Craig Thomson, CEO of Beanstream. "We found the ease of implementation and the platform independence of the GPayments solutions to be important factors to us and our customers. We have spent several years developing our own payment and authentication solutions and we feel that GPayments' products will greatly enhance our own competitive position. We are excited to be working with GPayments and look forward to the tremendous opportunity for these products."

"We are pleased to be working with a leader like Beanstream to deliver our solutions to merchants and banks throughout the Canadian market," said Brent Clark, Vice- President of Business Strategy at GPayments. "GPayments was closely involved in the formation of both the 3-D Secure and SPA standards and we believe that these products will deliver real value to merchants by reducing their losses and exposure to credit card fraud."

Beanstream has integrated ActiveMerchant into all of its core payment products and APIs. A demonstration of the service and product will be available in July by contacting Beanstream by telephone at 250-472-2326 or by emailing at sales@beanstream.com

About Beanstream Internet Commerce Inc.

Beanstream Internet Commerce Inc. is a leading Canadian electronic payment solutions provider. Services include a choice of credit card transaction packages; electronic funds transfer, and automated clearinghouse payment processing for both e-commerce and traditional brick and mortar businesses. Beanstream provides a wide selection of payment products from simple payment gateway services to full end-to-end e-commerce solutions.

Beanstream solutions work with almost all Canadian and US financial institutions and have been selected by a wide range of businesses across North America. Beanstream is headquartered in Victoria, British Columbia.

 

For additional information, please contact:

Wayne Peterson
VP, Corporate Services

Beanstream Internet Commerce Inc.
210-852 Fort Street
Victoria, British Columbia, Canada
V8W 1H8

Email: wpeterson@beanstream.com
Phone: 250.472.2326
Fax: 250.472.2330
www.beanstream.com

 

About GPayments Pty Ltd.

GPayments is focused on authentication and payment solutions for online transactions. It provides solutions for financial institutions (issuers and acquirers), payment gateways, merchants and cardholders. Over ten years experience in Internet technology has positioned it as a leader in secure electronic commerce. GPayments has a full ePayments product suite including issuer authentication systems, merchant plug-ins and cardholder applets. GPayments' products provide support for both Verified by Visa and Mastercard's SPA standards.

For additional information, please contact:

Lana Wu
Sales/Account Manager
GPayments Pty Ltd
Suite 201 Building C 14 Rodborough RoadFrenchs Forest NSW
Australia

Email: lana@gpayments.com
Tel: +61 2 9453 5411
Fax: +61 2 9453 5433
www.gpayments.com