Gap CEO Payl Pressler said that the retailer will "explore entering China " next year. The chain plans to open another 50 international stores by 2007 in addition to its network of 250 stores already in the United Kingdom , France and Japan.
Al Yeganeh, of Soup Kitchen International Inc, said the company is planning a retail line of "heat and serve" soups for grocery stores. The company also plans to open 1,000 "The Original SoupMan" restaurants in the United States and Canada. Yeganeh is the inspiration for the Seinfeld episode, "The Soup Nazi." Target announced plans to partner with Yahoo!'s Photos Web site to merge digital and print services for consumers.
NACHA Rates Top ACH Institutions
NACHA - The Electronic Payments Association recently released its Top 50 lists of both the largest originating and largest receiving financial institutions of automated clearing house (ACH) payment for 2004. The top 50 originating institutions accounted for 91.6% of all inter-bank ACH payments in 2004, while the top 50 receiving institutions accounted for 52.1% of all inter-bank ACH payments. View the list at www.nacha.org.
The organization also reported that inter-bank ACH payments grew by a record 23.7% in 2004. NACHA attributes the growth to financial institutions using ACH debits such as accounts receivable check conversion (ARC) and WEB (ACH debit payments via the Internet) to service their own portfolios of consumer credit card, mortgage and loan payments.
Mobile Phone Payments Study Released
A new report from the Smart Card Alliance examines the increased interest in using mobile phones for payment at the POS. The report, "Mobile Payments at the Physical Point-of-sale: Assessing U.S. Market Drivers and Industry Direction," discusses the business opportunities, market trends and alternative technologies for mobile payment implementation.
The report also covers the impact of contactless payment programs. Download a copy of the report at www.smartcardalliance.org.
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