Beanstream Internet Commerce Inc., a unit of LML Payment Systems Inc., is now offering a service that helps merchants process multiple currencies with more competitive pricing.
Beanstream's Global Payment Processing product lets merchants accept payments in 150 different currencies from 200 different countries, and it converts those currencies using pricing from local payment sites. It can accept payments via the Internet, phone order, email and other card not present methods.
Under Beanstream's two payment models, merchants can deposit international funds into a U.S. dollar-denominated account, eliminating the need for a more expensive international bank account.
And those with existing international accounts can settle funds directly to their accounts in the original transaction currency.
"The Beanstream solution provides merchants with the processing tools necessary to actively pursue international clients while removing common purchase barriers such as complicated currency conversion and fluctuating international pricing," Craig Thomson, LML's president, said in a press release Wednesday.
Beanstream is based in Vancouver, British Columbia.
