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NEW YORK, N.Y. – American Express Co. is largely viewed as an upscale charge card company, but it’s increasingly on the pulse of what’s going on with small business.
With the holidays approaching, AmEx will focus on small merchants who’ll take in billions of dollars in sales charged on American Express cards. Susan Sobbott, who heads the company’s small business operation, American Express Open, says that based on what she’s seeing, the holidays may not be the most robust for small retailers, but stores should show sales gains compared with last year.
AmEx keeps tabs on how optimistic small businesses are. A survey in September showed that 62 per cent of retailers had a positive view of the economy, compared to 56 per cent of small businesses overall. Half the retailers surveyed expected their revenue to rise over the next six months, compared to 43 per cent of all businesses.
Sobbott is frank about why AmEx is interested in small business: A thriving company is more likely to be an AmEx customer and use its charge and credit cards…

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PC Financial and TD Canada Trust credit card-holders will soon be able to leave their cards at home and pay for groceries with their mobile phones. The two financial institutions say they will launch Ugo, a mobile wallet that lets users pay and collect PC Points at Loblaw-owned stores with just a tap of their Android or BlackBerry device, effective Spring 2014.

“We are excited to be teaming up with PC Financial to develop Ugo, the first collaboration of its kind between two Canadian banks,” said TD’s Teri Currie in a press release issued Wednesday. “We’re also thrilled to be able to offer one of Canada’s most popular retail loyalty programs by welcoming Loblaw as our first retail partner.”
Initially, Ugo users will only be able to load their TD Visa, PC Financial MasterCard and PC Points cards into the mobile wallet. However, eventually the plan is to allow Ugo users to add debit capabilities and bring other retailers and loyalty programs into the fold…

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Susan Sobbott, President of American Express Open
AGE: 49
HOMETOWN: Westwood, N.J.
LIVES IN: Glen Rock, N.J.
EDUCATION: BA from Georgetown University, MBA from University of Virginia’s Darden School of Business
CAREER: Has been at American Express for 20 years, holding positions in the Strategic Planning Group and Global Merchant Services. She was senior vice-president of strategic alliances and co-brands in the Consumer Services division in 2003 when she left to join AmEx’s small business operations.
FAMILY: Husband, two children ages 10 and 8.
HOBBIES: Yoga, hiking.
LAST BOOK READ: Nancy Drew and the Curse of the Black Cat for a Halloween book report by one of her children.
SMALL BUSINESS CONNECTION: Her father ran a trucking company.
WHAT SMALL BUSINESS WOULD SHE LIKE TO OWN: A company aimed at encouraging children to eat healthy food and teaching their parents about healthy eating.
The post A biographical snapshot of Susan Sobbott, head of American Express’ small business operations appeared first on Canadian Business.

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