News

New York -- Bindo, a retail technology company, is launching a mobile Europay, MasterCard, Visa (EMV)-compliant credit card reader for its cloud-based iPad point-of-sale (POS) system.

Bindo’s newly developed EMV reader has full end-to-end encryption with its iPad POS system and is both EMV Level 1 and Level 2 certified in the U.S.

The J.M. Smucker Company has gained entry to a new business segment with the acquisition of privately held Sahale Snacks.

Smucker said it reached an agreement with Seattle-based Sahale to acquire the supplier of nut and fruit snacks to warehouse clubs, convenience stores and grocery retailers. Sahale’s annual sales of $50 million won’t have a material impact on Smucker, whose annual sales last year were $5.6 billion, but the deal does extend Smucker’s reach into new product categories.

New York -- Costco Wholesale Corp. fell slightly short of estimates in July even as most other retailers who still report same-store monthly sales outperformed expectations.

The warehouse club giant reported a 5% rise in same-store sales for July, excluding gasoline, falling short of estimates for a 5.7% increase. The company said foreign currencies had a slightly negative impact. It was the first time in five months that Costco's sales have increased less than expected. Costco's total revenue for the month increased 9% to $8.55 billion.

Burlington, Mass. -- Demandware, a provider of enterprise cloud commerce solutions, announced that Tervis Tumbler Company selected the Demandware Commerce platform to enhance digital commerce operations, grow online revenue and expand internationally. Tervis signed with Demandware in second quarter 2014.

San Francisco -- Banana Republic in late August will extend its digital reach as part of a select group of brands partnering with Instagram on paid advertising — a first-time amplification for the brand on the platform.

Austin, Texas – Zales has the highest annual percentage rate (APR) on its private label card out of 61 U.S. retailers surveyed by CreditCards.com. According to the study, the retailers with the five highest maximum APRs are:

1. Zales, up to a 28.99% APR;
2. Office Depot Personal Credit, up to a 27.99% APR;
3. Staples Personal Account, up to a 27.99% APR;
4. My Best Buy, up to a 25.24% and 27.99% APR, depending on your credit score; and

The retail industry and many of those who work at Walmart are going to get a double shot of Greg Foran next week. The former international executive assumes his new role as CEO of the Walmart U.S. division as the retailer prepares to release second quarter results and host a major U.S. manufacturing summit.

Pasadena, Calif. - Mobile payments company Wipit Inc has developed a new omni-channel payment technology designed to allow in-app barcode payments at retail point-of-sale. This technology compliments Wipit's existing network branded GPR card, in-app services, and e-commerce payment options from a prepaid cash mobile wallet.