Merchant

Mindbody, a San Luis Opisbo, Calif.-based company that makes business-management software for health-and-fitness businesses, has become an independent sales organization to improve its profit margin and to secure more control over its relationships with merchants, says Rick Stollmeyer, Mindbody founder and CEO.

All U.S. merchant processors likely will benefit from anticipated reductions in debit card interchange rates once the Federal Reserve Board next year finishes its rate-setting task mandated by the Dodd-Frank financial-reform bill President Obama signed into law in July. But they will need to be careful in how they share their savings, Paul Garcia, chairman and CEO of Global Payments Inc., told analysts July 27 while discussing the company’s fiscal fourth quarter earnings.

IPay POS Credit Card Terminal, the new version of the mobile-payment acceptance application called ProcessAway, now works with multiple gateways and comes with a card reader to accommodate card-present transactions, according to Randy Palermo, who developed the application that works on Apple Inc.’s iPhone.

SparkBase Adding Facebook, Twitter, FourSquare Integration

Merchant cash-advance company AmeriMerchant LLC’s merger with CanaFunding LLC this week is enabling ISOs to sell cash-advance services in either the U.S. or Canada, says David Goldin, AmeriMerchant president and CEO.

Point-of-sale terminal maker Hypercom Corp. late on Aug. 4 reported revenues of $103.9 million for the second quarter ended June 30, down 1.6% from $105.6 million during the same period last year. However, the Scottsdale, Ariz.-based company reported a $1.26 million net loss, in part because of component shortages that affected revenue; it reported net income of $1.26 million during the same period last year.

A new product designed to reduce the potential for card skimming will be available by early November, says Bellatrix Systems Inc., developer of the Card At Table Service.

Merchant cash-advance company AmeriMerchant LLC’s merger with CanaFunding LLC this week is enabling independent sales organizations to sell cash-advance services in either the U.S. or Canada, says David Goldin, AmeriMerchant president and CEO.

ACH Federal LLC, an automated clearinghouse transaction processor, will refer merchants wanting credit and debit card transaction-processing services to PDX Enterprise Solutions, a Portland, Ore.-based independent sales organization, ACH Federal announced July 28.

Mindbody, a San Luis Opisbo, Calif.-based company that makes business-management software for health-and-fitness businesses, has become an independent sales organization to improve its profit margin and to secure more control over its relationships with merchants, says Rick Stollmeyer, Mindbody founder and CEO.