VANCOUVER, British Columbia, Aug. 14, 2012 (GLOBE NEWSWIRE) -- LML Payment Systems Inc. (Nasdaq:LMLP), today announced that wholly owned subsidiary Beanstream Internet Commerce Inc., a Sage North America Endorsed/OEM partner, whose suite of Sage Simply Accounting payments solutions have met rigorous strategic, technology and integration criteria , has been named a Sage OEM and Endorsed Development Partner of the Year for 2012. In its second year, the Sage Development Partner Awards honor development partners who have best demonstrated a solid understanding and strong overall commitment to Sage customers. Sage values Beanstream and all OEM and Endorsed partners for extending the Sage customer experience through well-designed and easy-to-use products and services. Recognition as a Sage OEM and Endorsed Development Partner of the Year is based on a partner's ability to successfully deliver solutions that best fit customer and market needs; actively assist the Sage channel in closing new Sage solution sales; significantly help Sage with customer retention; and maintain a solid reputation for customer satisfaction. "Our Endorsed and OEM partners have been successful at delivering excellent value to Sage customers by extending and enhancing the functionality of Sage solutions," says Vasu Desikachary, Sr. Director of Strategic Alliances. "We thank and congratulate Beanstream for their dedication to our mutual business partners and clients." "Beanstream is pleased to receive this award from Sage. We are proud of our 10-year partnership with Sage and look forward to providing more payments solutions over the next decade," said Chris Koide, Chief Operating Officer. By combining the strengths of both companies, Beanstream provides straight-through processing of direct deposit for Sage payroll applications and vendor payment support for payables management. Beanstream's extensive industry background and in-depth understanding of the complex payment industry enables seamless system design, iron-clad security and customer-centred solutions for partners. Winners were presented at the Sage Summit 2012 Conference on August 13, 2012 at the Gaylord Opryland Resort and Convention Center in Nashville, TN. 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 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.