For Jack Ma, executive chairman of Alibaba Group Holdings, today is an extremely busy and lucrative day because the company he founded 15 years ...
Beanstream Technology Automates Transit Loyalty Program, Simplifying Opt Ins at Checkout and Ongoing Management.
VANCOUVER, British Columbia, July 12, 2011 (GLOBE NEWSWIRE) -- Beanstream
Internet Commerce Inc., a wholly owned subsidiary of LML Payment Systems
Inc. (Nasdaq:LMLP), has delivered an innovative AIR
MILES(R) reward miles solution for City of Edmonton, Edmonton Transit System
(ETS). The custom integration of Beanstream's proprietary shopping cart
software now automates online delivery of the ETS AIR
MILES(R) Program, making it easier to generate loyalty among transit users
purchasing monthly passes or ticket strips online.
"The Beanstream solution provides ETS with the tools we need to successfully
deliver the AIR MILES(R) Program while almost completely removing the manual
process. Qualifying customers can now directly enter their AIR MILES(R)
collector number at checkout and securely receive reward miles sooner thanks
to Beanstream technology. Moreover, this upgrade has also increased our
flexibility to manage and create new offers, adding further value to our
riders," said ETS Strategic Marketing Supervisor, Nathan Walters.
"We take pride in our ability to provide efficient payments solutions that
meet the challenges of ever evolving commerce business models.
Managing payments has become more than simply processing transactions and
moving money. For many businesses, payments have become the foundation of
engagement with their customers. Edmonton Transit System came to us with
complex requirements to create a bridge between their online payment portal
and their reward incentive program. Our comprehensive payments platform was
designed specifically to provide such value-added services. This latest AIR
MILES(R) certification adds yet more value to our already comprehensive
suite of products and illustrates our ability to enrich the payment
experience for our customers. We are proud to have worked with Edmonton
Transit to help them achieve their vision and congratulate them on the
launch of the next phase of their program," said LML President Craig
About City of Edmonton, Edmonton Transit System (ETS)
The City of Edmonton is Canada's 6th largest city, offering all the
amenities of a major urban centre plus a family-friendly environment that is
safe, stimulating and rich with opportunity. ETS is a fully integrated,
progressive, easy-to-use public transit system that supports economic
development and improves the quality of life in Edmonton. The ETS
infrastructure includes over 6200 bus stops and more than 440 routes.
About LML Payment Systems Inc. (www.lmlpayment.com)
LML Payment Systems Inc., through its Canadian subsidiary Beanstream
Internet Commerce Inc., and US subsidiaries Beanstream Internet Commerce
Corp (www.beanstream.com) and LML Payment Systems Corp., is a leading
provider of financial payment processing solutions for e-commerce and
traditional businesses. We provide credit card processing, online debit,
electronic funds transfer, automated clearinghouse payment processing and
authentication services, along with routing of selected transactions to
third party processors and banks for authorization and settlement. Our
intellectual property estate, owned by subsidiary LML Patent Corp., includes
U.S. Patent No.
RE40,220, No. 6,354,491, No. 6,283,366, No. 6,164,528, and No.
5,484,988 all of which relate to electronic check processing methods and
Cautionary Statement Regarding Forward-Looking Statements
Certain statements in this press release are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include all passages containing verbs such as
"aims," "anticipates," "estimates," "expects,"
"intends," "plans," "predicts," "projects" or "targets" or nouns
corresponding to such verbs. Forward-looking statements also include any
other passages that are primarily relevant to expected future events or that
can only be evaluated by events that will occur in the future.
Forward-looking statements are based on the opinions and estimates of the
management at the time the statements are made and are subject to certain
risks and uncertainties that could cause actual results to differ materially
from those anticipated in the forward-looking statements. Factors that could
affect the Corporation's actual results include, among others, the impact,
if any, of stock-based compensation charges, the potential failure to
establish and maintain strategic relationships, inability to integrate
recent and future acquisitions, inability to develop new products or product
enhancements on a timely basis, inability to protect our proprietary rights
or to operate without infringing the patents and proprietary rights of
others, and quarterly and seasonal fluctuations in operating results. More
information about factors that potentially could affect the Corporation's
financial results is included in the Corporation's quarterly reports on Form
10-Q and our most recent annual report on Form 10-K filed with the
Securities and Exchange Commission. Readers are cautioned not to place undue
reliance upon these forward-looking statements that speak only as to the
date of this release. Except as required by law, the Corporation undertakes
no obligation to update any forward-looking or other statements in this
press release, whether as a result of new information, future events or