Macy’s sells back stake in The Knot
New York City — The Knot, a media company that targets brides-to-be and pregnant women, said Monday that Macy’s has sold back its 10.7% stake in The Knot for $37.7 million.
The Knot did not give a reason for the repurchase and said it is part of a previously announced $50 million buyback plan.
The sale doesn’t affect the companies’ advertising and wedding registry agreements: The Knot will continue to direct wedding-minded readers to Macy’s and Bloomingdale’s registries, and Macy’s will keep advertising in The Knot’s media properties.
Peter Sachse, Macy’s chief marketing officer and head of its website, will remain on The Knot’s board.
The Knot runs nearly 20 websites, including the theknot.com, and it publishes magazines and books about wedding planning. It also has created television specials for the Style Network.
Best Buy offers free delivery, 18-month no-interest financing on appliances
Minneapolis — Best Buy Co. announced it will free delivery and no interest financing if paid in full within 18 months on all appliance purchases over $429.
In order to qualify, the transaction must include at least one major appliance being delivered. Customers can select the form of payment of their choice and are not required to put their purchase on 18-month financing to receive the free delivery. Interest will be charged to an individual’s account from the purchase date if the purchase balance is not paid in full in 18 months or if a late payment is made. Best Buy will also haul-away and recycle the old appliances for no additional charge.
Buying appliances can be a pretty stressful experience for customers,” said Kevin Balon, senior VP, general manager of home appliances for Best Buy. “Having the ability to opt-in for both free standard delivery and 18-month interest free financing gives our customers more options and makes the shopping experience a little easier.”
VeriFone to supply its PAYware Merchant card payment service for Latin America McDonald’s restaurant operations
San Jose, Calif. — VeriFone Systems announced it has won a contract to supply its PAYware Merchant card payment and settlement hosted service to Arcos Dorados, the largest restaurant operator in Latin America and the largest McDonald’s franchisee in the world.
Beginning with 220 McDonald’s restaurants in Argentina and Uruguay, PAYware Merchant will be integrated with a proprietary POS system to accommodate card payment processing at the point of sale.
Arcos Dorados has also contracted to lease VeriFone card acceptance systems and will offer individual restaurants either the VX 810 PINpad or MX 870 multimedia payment system. The agreement provides the opportunity for broader rollout to other countries, and beyond.
We were looking for payments and security expertise, and VeriFone provided the knowledge and technology to support our efforts,” said Pablo Corona, Arcos Dorados Systems Director, South Division of Latin America. “We found the perfect match for PCI DSS compliant hardware and software while increasing transaction reliability.”
Arcos Dorados is a Latin American company and operates more than 1,850 McDonald’s restaurants, as well as other McDonald’s-branded points of sale throughout 19 countries.
“When implemented, customers will swipe their cards on a VeriFone acceptance device connected to a cash register. The cash register POS then passes the transaction to PAYware Merchant, which handles payment processing authorization and settlement between the acquirer and the restaurant system.