Taco Bell, PayPass bring ‘no-swipe’ to fast food

Filed under: Retail |

Taco Bell is joining the growing list of merchants who are using PayPass payment technology.
MasterCard’s PayPass is a contactless payment solution that enables consumers to process their own transactions on a PayPass reader. Purchases under $25 do require a signature. Taco Bell will continue to accept traditional magnetic-stripe payment cards.
MasterCard Worldwide and Taco Bell are testing the system with the intent to launch it at all 1,300 company-owned restaurants and additional participating franchise locations nationwide.
PayPass will be accepted at both dine-in and drive-thru locations. About 100 Taco Bell stores will begin accepting MasterCard PayPass during the fourth quarter of 2007, with additional stores added throughout 2008, pending a successful test.
MasterCard PayPass has led the way in bringing contactless technology to consumer categories such as quick-serve restaurants, drug stores, gas stations, vending machines, convenience stores, sports arenas, movie theaters, transit systems and parking garages.
There are nearly 13 million PayPass cards and devices in the market, and PayPass is accepted globally at 46,000 merchant locations.

Kohl’s sees stronger retail sales

Kohl’s has proved to be an atypical retailer, according to Forbes. While other clothiers posted disappointing results, Kohl’s exceeded expectations.
Kohl’s has experienced strong business despite tough industry conditions. Many competitors posted disappointing sales figures for February because of winter weather.
A Commerce Department report about February retail sales showed a gain of just 0.1 percent, with apparel retailers hit hardest, losing 1.8 percent in sales. Kohl’s, however, announced February same-store sales jumped 4.4 percent.
Kohl’s also kicked off March by announcing strong fourth quarter earnings per share of $1.48, up 37 percent from the same period last year and beating analysts’ estimates by 5 cents.
Kohl’s has been helped by its increasing focus on exclusive, high-quality products. Generally, stores with these offerings have proven more resilient at weathering the tough conditions, while discount retailers have posted some of the more disappointing figures.

The Home Depot expands sponsorship with NASCAR

The Home Depot, the world’s largest home improvement retailer, will become this year’s exclusive retailer of NASCAR Day pins.
NASCAR Day 2007, an annual, charitable celebration of the spirit of auto-racing fans, is May 18.
In support of the initiative, the company will run a special NASCAR Day-themed paint scheme on the No. 20 Home Depot Chevrolet driven by two-time Nextel Cup Series champion Tony Stewart when he competes in the April 15 race at Texas Motor Speedway.
Proceeds from the sale of the NASCAR Day pins will benefit The NASCAR Foundation Family of Charities, which is comprised of more than 30 nonprofit organizations supporting children’s causes, animal welfare and conservation efforts, and The Home Depot’s national nonprofit partner KaBOOM!, whose vision is to create a great place to play within walking distance of every child in America.
NASCAR Day began in 2004 and in 2006 raised more than $1.3 million, which included participation by more than 3,000 companies across the country, more than 100,000 pins sold online, 29 official state proclamations issued and NASCAR Day celebrations held worldwide.
Since 1999, The Home Depot has been an official sponsor of NASCAR and the No. 20 racing team. In 2004, the company extended its agreement with Joe Gibbs Racing and Stewart through 2009.

Excellence in Exporting applications due

Applications are currently being accepted from Colorado companies for the Governor’s Award for Excellence in Exporting.
This award honors Colorado companies that have made significant commitments to exporting. Winners will be recognized at World Trade Day on May 17.
Export businesses of any size or industry may apply, as well as those exporting either goods or services, or both. In the past, the award has been given to companies falling in various categories such as small and large-sized manufacturing company, service exporter, and agricultural-based business.
The Governor’s Award for Excellence in Exporting has been awarded every year since 1970 and recognizes Colorado companies that demonstrate a commitment to international trade.
Applications are due by April 13. For more information or to request an application, contact Amy Reichert at the Colorado Office of Economic Development & International Trade at amy.reichert@state.co.us or (303) 892-3850.
The Colorado Office of Economic Development and International Trade is Colorado’s primary resource for business development and oversees numerous services and programs including, biosciences and emerging technologies, business development, business finance, Colorado Tourism Office, Colorado Council on the Arts, Economic Development, International Trade Office, minority- and women-owned business, and small business development centers.
Joan Johnson covers retail for the Colorado Springs Business Journal.