NEWSThe majority of small business owners (61%) believe working with friends or their spouse/significant other would benefit their business, according to a recent survey by American Express Co.
Eighteen percent took over a family business themselves. And 61% want their kids to take part in the business. But many do not have a succession plan in place. Only a little over a third (37%) have actually made one.
Regardless of whether they work together, nearly all small business owners (90%) said their spouse or significant other is supportive of their decision to become an entrepreneur. And more than half (57%) of business owners discuss work with their spouse or significant other daily.
First quarter 2007 U.S. retail e-commerce sales totaled $31.5 billion, an increase of 3% over the previous quarter, and up 18.4% over the same period last year, the U.S. Census Bureau reported.
E-commerce sales in the first quarter of 2007 accounted for 3.2% of all retail sales, which totaled $999.5 billion, up 1.7% from the previous quarter, and 3.2% from the same quarter a year ago.
Amounts were adjusted for seasonal variation and holiday and trading-day differences.
ANNOUNCEMENTSAmbironTrustWave, provider of data security and compliance management solutions, has opened an office in Miami to serve as the regional headquarters for its Latin America and Caribbean operations. The company hired Jarrett Benavidez to serve as Managing Director, overseeing sales and business development in those regions.
China UnionPay has certified Blue Bamboo's H50 POS terminal, an all-in-one wireless handheld product. The device offers general packet radio service (GPRS), contactless, dial-up and Bluetooth connectivity. It also supports credit, debit, gift and loyalty payment applications.
International Merchant Solutions announced a franchise partnering program, which includes interchange (cost) pricing, 24-hour/seven-day customer service and direct access to the company's principals.
The program also offers cash contributions for credit card terminals and software purchased or leased by franchises; online monitoring of processing for corporate offices; free training, installation and application processing; and no monthly minimums or annual fees.
Jared Isaacman of United Bank Card Inc. is a finalist for the New Jersey Ernst & Young Entrepreneur of the Year 2007 Award. This is the second year in a row that Isaacman has been nominated for the award, which recognizes outstanding entrepreneurs and business leaders.
The Electronic Transactions Association named Marla Knutson ETA Member of the Year. Knutson is President of TransFirst's Financial Institutions division. An ETA board member for four years, Knutson was nominated for the award by one of her peers and then chosen by the ETA's Awards & Recognition Committee.
She has served on the ETA's industry relations, finance and government relations committees and chaired the association's Strategic Leadership Forum. In addition to Member of the Year, Knutson and TransFirst were nominated for three additional ETA awards this year.
Payment Data Systems Inc. announced it completed a Payment Card Industry (PCI) Data Security Standard audit, which validated that the company is in full compliance with the security level one standard for service providers.
Pivotal Payments is offering ISOs and agents a $1,000 per merchant signing bonus program. The company also announced that Nascar driver Michael Waltrip will be its official spokesman.
A payment processor, Pivotal provides a full suite of merchant processing services to small and mid-sized retail businesses, MO/TO merchants, chain stores, franchises, restaurants and dealerships.
PARTNERSHIPSThink Partnership Inc., a provider of interactive performance-based marketing and related Internet technologies, has chosen Chase Paymentech Solutions LLC for payment processing. Think Partnership reportedly has a large base of recurring charges from pay-per-click advertising, dating, education and home-based business opportunities.
First American Payment Systems LP and Infinity Business Group Inc. have teamed to support education through IBG's loyalty program "I S.W.I.P.E," which is short for "I Support Winners in Public/Private Education." The program enables merchants to contribute a portion of each credit card transaction to local schools. FAPS is supplying the card processing services.
Murphy USA is now part of Tempo Payments Inc.'s payment network. Murphy will implement Murphy-branded PIN debit cards at more than 1,000 gas stations, with an initial roll-out to 111 stores in Atlanta, Dallas/Ft. Worth and Houston. The company will also reward consumers using the card with a $0.01 per gallon discount at the pump.
Heartland Payment Systems Inc. plans to increase its strategic investment in Parcxmart Technologies, the developer of a parking and local merchant smart card payment system.
The partnership will also result in an exclusive marketing agreement whereby Heartland's national sales network will have exclusive rights to sell Parcxmart's payment system to merchants and municipalities nationally.
MERGERS & ACQUISITIONSDiscountPOS.net acquired RegistWARE POS software. The acquisition will allow discountPOS.net to offer one of the lowest priced complete retail management POS systems in the industry (starting under $1,500), according to the company.
Emida Technologies Inc. and Q Comm International Inc., providers of electronic prepaid solutions, plan to merge. According to both businesses, the combination will create one of the largest companies in the prepaid industry.
It will have a retail network of more than 21,000 prepaid points of sale spanning 21 countries and a combined annual dollar payment volume in excess of $456 million, processing more than 34 million prepaid transactions annually.
The new company will do business as Emida. Dennis Andrews will remain Chief Executive Officer of Emida. Mike Keough, CEO of Q Comm, will serve as President of Emida North America. The merger is expected to close on or after July 10, 2007.
Financial Transaction Services acquired Allied Bancard. FTS is a full-service provider of electronic transaction processing services for merchants, ISOs and financial institutions. Angelo and Jerry Grecco of Allied Bancard, and Allied's sales force, will join the new company.
APPOINTMENTSThe National Association of ATM ISOs and Operators appointed Greg Adkins Director of Operations. Adkins has more than 15 years' experience in the ATM industry. He began his career as Electronic Banking Manager with National City Bank.
He managed Brink's Inc.'s ATM and currency processing departments in the Cleveland area. And he spent eight years with Diebold Inc. Most recently, Adkins was Director of Operations and Sales with WRG Services Inc.
Jerry Bartlett joined First Data Corp. as Senior Vice President and Chief Technology Officer of Development for First Data Resources. Bartlett, who has 20 years' experience, was most recently with TD Ameritrade. Prior to that, he served in leadership positions at the St. Paul Co. and the American Red Cross.
Jim Burns, Executive Vice President of Ceridian Corp. and President of Ceridian International, was appointed Interim President of Comdata, a Ceridian wholly owned subsidiary.
Gary Krow, who was Executive Vice President of Ceridian and President of Comdata, was terminated for violations of Ceridian's code of conduct. The violations included unauthorized meetings with and disclosure of confidential information to Pershing Square Capital and other third parties, according to the company.
Nxgen Payment Services named Giuseppe Caltabiano Chief Operating Officer. Caltabiano has more than 15 years' experience in senior management positions. Prior to Nxgen, he was President of WorldWide Operations for CyberNet Inc. He also worked at VeriFone as Vice President of Business Development in Asia Pacific and was one of the founding members of VeriFone's European operations.
He has held business development positions at Olivetti, Philips and Fingross Card Systems. Before joining CyberNet, he was Vice President of IT and Business Development for GemWare and the General Manager of Tranzkorp.
Deborah Camm joined USA ePay as Vice President of Sales and Marketing. She has over nine years of bankcard experience. She was Assistant Vice President of Sales and Marketing at Humboldt Merchant Services LP. And most recently, Camm has consulted on behalf of Planet Payment.
Dr. Kenneth Martin Carr has been appointed Managing Director and CEO of Keycorp Ltd. Carr was most recently Group CEO of LongReach Group Ltd., prior to its November merger with Allied Technology Ltd.
He has also held senior executive roles at IBM Global Services Australia, Lucent Technologies, Computer Sciences of Australia and Unisys Australia Ltd. He has also worked for British Telecom and AT&T.
Electronic Clearing House Inc. (ECHO) announced the upcoming retirement of Chairman and CEO Jody Barry, effective July 2, 2007.
Upon Barry's retirement, President and COO Chuck Harris will become CEO, and independent board member Richard D. Field will assume the role of nonexecutive Chairman of the board of directors. ECHO also appointed Shawn Alikian in-house General Counsel.
Richard W. Vague joined Heartland Payment Systems' board of directors. He most recently served as CEO of Barclays Delaware Bank, which he joined in 2004 after its acquisition of Juniper Financial, a company he co-founded. Prior, he was co-founder, Chairman and CEO of First USA. Vague has also served as Chairman of Paymentech.
BOTTOM LINESThe Merchant Bill of Rights is an initiative of Heartland Payment Systems Inc.
The Green Sheet Inc. is now a proud affiliate of Bankcard Life, a premier community that provides industry-leading training and resources for payment professionals. Click here for more information.
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