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Digital River Launches Beanstream Mobile Payment Solutions

Stocks in this article: DRIV

Digital River, Inc. (NASDAQ: DRIV) today announced the launch of Beanstream Mobile, a suite of mobile payment solutions for iPhones ®, iPads ® and Android TM devices that provide fast and secure transactions in 140 currencies. Beanstream Mobile frees merchants by turning mobile devices into a portable card swipe, cash register and comprehensive solution.

Beanstream Mobile works with an encrypted card reader and a free downloadable app. With the solution and their mobile device, merchants can swipe or key in credit or debit card data on the spot, accept and track cash and check transactions, and capture online sales wherever they go. In addition, merchants can supply receipts, complete with geo-location data, directly from the app via a printed copy, email or text message. The system consolidates all sales workflows and data into one system, making analytics more accessible and comprehensive.

Unlike most mobile payment solutions, Beanstream Mobile’s interface and encrypted card reader are specifically designed to be white-labeled by brands and financial institutions. The smartphone app for iOS and Android provides for an efficient and polished mobile sales process by allowing merchants to tailor customer information fields that matter to their business. Beanstream Mobile also offers time-savers such as a one-step signature and gratuities screen, and up to two automatic taxes.

“Existing mobile payment solutions have fallen short for merchants with multi-currency operations, in-store and online sales, and inventories,” said Souheil Badran, senior vice president and general manager, global payments and commerce at Digital River. “Now, merchants will be able to unify their payment channels with one device and accept credit card mobile payments in 140 currencies through an integration with Digital River World Payments’ international bank connections.”

Beanstream Mobile for iPad, the flagship app, offers a unique inventory capability that lets merchants add photos of products and create UPC codes. By leveraging Digital River’s flexible API toolkit, users can quickly upload existing inventory and retrieve valuable analytics and sales data from all apps in the mobile product family. Beanstream Mobile’s point-to-point encryption ensures no sensitive data is stored on the device.

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