As @Paddyslacker elegantly stated in Are certifications worth it?

The main purpose of certifications is to make money for the certifying body.

I am a fairly young developer, with only an undergraduate degree, and my job is (graciously) offering to sponsor some professional development of my choice (provided it can be argued that it will contribute to the quality of work I do for them).

A search online offers a slew of (mostly worthless) certifications one can attain. I'm wondering if there are any that are actually recognized in the (North American) industry as an asset. My local university promoted CIPS (I.S.P., ITCP) at the time I was graduating, but for all I can tell it's just the one that happened to get its foot in the door. It's certainly money grubbing - with a $205 a year fee.

So are there any such certifications that provide useful credentials?

To better define 'useful' - would it benefit full time developers, or is it only something worth while to the self-employed? Would any certifications lead me to being considered for higher wages, or can that only be achieved with more experience and an higher-level degree?