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More merchants go live on Master Card’s digital platform, MasterPass

BY Marianne Wilson

Purchase, N.Y. — Beyond the Rack, Currys, lastminute.com, Newegg and PC World have gone live on MasterPass, the digital platform from Master Card. More than 20,000 leading retailers in the United States, Canada, the United Kingdom and Australia are now on the platform, according to Master Card.

“At Newegg, we view the checkout process as a core element of our customer’s overall shopping experience with us,” said Jacob Shin, VP of customer acquisition at Newegg. “We recognize that implementing advanced payment methods like MasterPass can improve our customer satisfaction and even potentially drive spend. By incorporating MasterPass, we’re able to deliver an easier and more seamless checkout experience for our customers in the U.S., and Canada.”

MasterPass eliminates the need for consumers to enter detailed shipping and card information to complete their online shopping at MasterPass merchant sites. Consumers can securely store MasterCard and other branded credit, debit and prepaid card information, address books and more. This simplifies the process of completing a transaction from any connected device, particularly those with smaller screens.

“We welcome Beyond the Rack, Currys, lastminute.com, Newegg, PC World and the ever-growing list of merchants that identify the MasterPass platform as a way to make the consumer shopping experience more convenient, simpler and faster,” said Vibhav Prasad, group head, MasterPass, at MasterCard. “MasterPass creates the cornerstone of all sorts of new shopping experiences across every channel, while delivering the security and benefits consumers enjoy today from a genuine MasterCard transaction.”

MasterPass will also be made available to both merchant and issuing partners in seven new markets – Brazil, Belgium, France, Italy, Singapore, Sweden and Spain – by year’s end.

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GE Capital is sole lender on $100 million credit facility for Samuels Jewelers

BY Staff Writer

Norwalk, Conn. – GE Capital, Corporate Retail Finance announced it is administrative agent and sole lender on a $100 million senior secured credit facility for Samuels Jewelers. The proceeds will be used to refinance existing debt and to support ongoing working capital needs. GE Capital Markets served as lead arranger.

“GE Capital knows our company well, and works closely with us to provide the financing we need to run our business,” said Robert Herman, CFO for Samuels Jewelers, Austin, Texas. “We particularly value their ability to finance our unique inventory and receivables.”

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Staples names VP, treasurer and tax

BY Staff Writer

Framingham, Mass. — Staples announced the appointment of John Buchta to VP, treasurer and tax. Buchta adds the role of treasurer to his current responsibilities as VP, tax, and will continue to report to Christine Komola, executive VP and CFO.

Buchta joined Staples in 2011 as VP, tax. Prior to Staples, he was a partner at Ernst & Young.

Buchta succeeds Lisa Scopa, who has been appointed VP, high growth markets.

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