Heartland Payment Systems Signs Merchant Acquiring Agreement with Discover Financial Services

Business Wire,  June 25, 2008  

• E-mail
• Print
• Link

Agreement provides merchants with one source for card processing, customer support and statements

PRINCETON, N.J. -- Heartland Payment Systems (NYSE:HPY) and Discover Financial Services (NYSE: DFS), a leading credit card issuer and electronic payment services company, are joining together to offer business owners a streamlined process that enables them to accept Discover Network cards on Heartland's processing platform. Heartland is a leading provider of credit/debit/prepaid card processing, payroll, check management and payment services.

Heartland will offer all its new and existing customers an integrated processing solution that includes card acceptance pricing, funding, statement processing and customer service on one platform. Previously, to accept Discover Network cards, business owners had to deal with two separate platforms - one for Discover and one for all other cards. Merchants who sign up for the program will, in turn, be able to offer their customers the added benefit of Discover Network card acceptance with greater ease.

"Accepting an additional card type enables business owners to increase their revenue by providing their customers with expanded payment options and convenience," said Bob Carr, chairman and chief executive officer of Heartland. "Our agreement with Discover ensures the processing of these payments and servicing of our customers is streamlined and efficient."

"This agreement with Heartland benefits both merchants and consumers by making it easier to pay for purchases using Discover Network cards," said Gerry Wagner, vice president of acceptance and client relations for Discover Financial Services. "Small- and mid-sized merchants benefit from the ease of dealing with one source for card acceptance, while Discover Network cardholders benefit from wider acceptance of their preferred method of payment."

Heartland will provide payment processing on behalf of Discover Network and maintain the direct card acceptance contract with participating merchants. The program will be available in the last half of 2008. Specific terms and conditions of the agreement are not being disclosed.

About Discover Financial Services

Discover Financial Services (NYSE: DFS) is a leading credit card issuer and electronic payment services company with one of the most recognized brands in U.S. financial services. The company operates the Discover Card, America's cash rewards pioneer. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Its payments business consists of the Discover Network, with millions of merchant and cash access locations, and PULSE, one of the nation's leading ATM/debit networks. For more information, visit www.discoverfinancial.com.

About Heartland Payment Systems

Heartland Payment Systems, Inc., a NYSE company trading under the symbol HPY, delivers credit/debit/prepaid card processing, payroll, check management and payments solutions to more than 250,000 businesses nationwide.

Heartland is the founding supporter of The Merchant Bill of Rights, a public advocacy initiative that educates merchants about fair credit and debit card processing practices. For more information, visit www.heartlandpaymentsystems.com and www.MerchantBillOfRights.com.

Forward-looking Statements

This press release may contain statements of a forward-looking nature which represent our management's beliefs and assumptions concerning future events. Forward-looking statements involve risks, uncertainties and assumptions and are based on information currently available to us. Actual results may differ materially from those expressed in the forward-looking statements due to many factors. Information concerning these factors is contained in the Company's Securities and Exchange Commission filings, including but not limited to, the Company's registration statement on Form 10- K, or Form 10-Q as applicable. We undertake no obligation to update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.

COPYRIGHT 2008 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning