Beanstream Internet Commerce Review

Beanstream Internet Commerce Review

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Beanstream Internet Commerce Review

Beanstream Internet is an experienced company established in 2000. With an experience of doing business for over 10 years now, the company certainly knows how to provide quality services and assistance to their merchants. The site is a great help especially for those who are searching for an account on Canadian service provider. With an experience of over 10 years in the business, I expected few complaints about the company due to their vast exposure, but to my surprise, there is no compliant against the company in last 3 years with the BBB.

I tried to dig little deep to find anything negative about the company, but was only able to find one bad online comment about the company, and that too was made 6 years ago. It was more than obvious for me in my search that company carries a good name among online community. I tried to do some research about their feedback on forums like WebHosting TALK and Webmaster World and find results with only positive feedback.

If you want to know more, you can read their blog or visit their site. They are also available on Linkedin.

The reason why I rated Beanstream Internet Commerce a 5 out of 5 company is because if you visit a section on their website “Featured Clients”, you can easily see that a good number of very high profile clients are loyal to Beanstream Internet Commerce.

Date Established:
2000.

Location:

Victoria, British Columbia (Canada)

Domain Name(s):

Parent/Partner Company:
Beanstream is a wholly owned subsidiary of LML Payment Systems, Inc. LML purchased Beanstream back in 2007.

Type:
Registered ISO/MSP.

Acquiring Bank(s) (Acquirer):
Wells Fargo Bank.

Payment Processor(s):
First Data, Global Payments, Chase Paymentech, TD (Toronto-Dominion), TSYS (Vital) or Elavon (NOVA).

Payment Gateway(s):
Beanstream uses their own self-branded payment gateway.

Trust Symbols:
The Beanstream Internet Commerce BBB profile has a “A+” rating as of this review, with 0 complaints in the last 36-months.

Negative Reviews:
I only found 1 negative comment and that was from 2006, so this makes them one of the most efficient company’s I ever reviewed.

Common Complaints:
None.

Verifiable Testimonials/References:
One look at the Beanstream “Featured Clients” page, and you’ll see a nice list of high-profile clientele.

Security/Privacy:

Their site does not offer any onsite security like McAfee etc. Even though, it may look strange for some for Commerce site but I don’t see any use of onsite security there. The reason is simple, they don’t ask you to provide them critical information online, instead need few basic information. Further details can be faxed or a separate secure online app is used.

Contract Duration:

No contract duration. Your contract will be month-to-month.

Cancellation Fee:
No cancellation fee.

Interchange-Plus Pricing:
Beanstream does not offer interchange-plus pricing, but for Canadian merchants, they have a bundled pricing structure which is basically a flat-fee that you pay each month. U.S. merchants will be placed under a tiered-pricing model, which you know that I generally don’t recommend, but I think with a company like Beanstream, you’ll get the kind of service necessary to help you understand your true costs prior to signing up, and help understanding your statements once you’re signed up.

Seasonal Downtime:
You will be able to temporarily deactivate your account with Beanstream for $10/month.

Product/Service Offering:
Online/e-Commerce, Direct Payments (Debit/Deposit), Online Debit Cards INTERAC.

Product/Service Specialty:
Online Credit Card Processing.

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