FINANCE

Mattress Firm names CFO

BY Staff Writer

Houston — Mattress Firm Holding Corp. announced the promotion of Alex Weiss to executive VP and CFO of the company, effective July 30, 2014, the beginning of the retailer’s third fiscal quarter. He succeeds Jim Black who transitions into the role of senior corporate advisor to Mattress Firm through the end of the current fiscal year.

“I am confident that Alex is well prepared to assume greater responsibility in leading our finance organization as we prepare for our next phase of growth,” said Steve Stagner, Mattress Firm’s president and CEO. “I would also like to thank Jim for his fourteen years of service as our chief financial officer. He has been an excellent partner for me over the years and has been instrumental in driving the growth of this company. We are pleased that he will continue with us through January 2015 to ensure a smooth transition of his duties to Alex.”

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Sage North America releases payment platform

BY Dan Berthiaume

Irvine, Calif. — Sage North America is releasing the new Sage Exchange Payment Management System to consolidate all of retail small-to-mid-sized business (SMB) payment activity onto one platform. SMBs can use Sage Exchange to monitor and manage the payments from all their sales environments: on the web, over the phone, through mobile devices, or at their storefront, on a 24/7 basis.

That consolidated activity and information can be accessed and administered online from anywhere, using a single user name and password. SMBs can manage credit card transactions, and also gift cards, mobile payments, and checks in real-time.

Sage Exchange also allows businesses to connect their Sage accounting or ERP software to their payment devices for automated reconciliation of payment activity, as well as gain access to the Sage support group or self-service portal.

The new Sage Exchange Payment Management System was built on three core components:

  • Consolidated access to all payment accounts and devices.
  • Advanced payments administration and reporting.
  • Simple integration tools to connect payment solutions with Sage accounting products.

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Facebook nabs PayPal president

BY CSA STAFF

Silicon Valley saw some drama late Monday when PayPal announced that president David Marcus was leaving to lead Facebook’s messaging products.

The split was amicable with eBay president and CEO John Donahoe wishing Marcus well at Facebook.

“As the head of PayPal, David helped make a great business better, reinvigorating product design and innovation and energizing the team to deliver compelling consumer experiences,” Donahoe said. “An entrepreneur at heart, David has made a career decision to focus on what he loves most – leading smaller teams to create great product experiences. We wish him well. He leaves behind a strong leadership team, committed to not skipping a beat on executing our plans, scaling product innovation and driving global growth.”

Donahoe said the PayPal team will report to him until a new president is named.

“Leading PayPal has been one of the most amazing experiences of my career,” Marcus said. “I’m proud of what we’ve done together over the past two years, reinvigorating and accelerating product innovation and strengthening PayPal’s global leadership in mobile and digital payments. I believe PayPal is poised for long-term success in creating the future of money. And I know the business has a strong leadership team in place. That’s why now felt like the right time to make a change and return to how I most love to spend my time, leading smaller teams to build great product experiences.”

PayPal has more than 148 million active accounts and in 2013 processed $180 billion in payment volume, including $27 billion of mobile payments volume, and accounted for 41% of eBay’s revenue last year.

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