HEARTLAND PAYMENT SYSTEMS AND AMERICAN EXPRESS SIGN MERCHANT SALES AND SERVICING AGREEMENT
Deal offers merchants one source for customer service and statements.
NEW YORK & PRINCETON, January 22, 2008 -- Small and mid-sized businesses can now benefit from an integrated solution for all of their card processing transactions. In an agreement announced today, American Express (NYSE: AXP) and Heartland Payment Systems (NYSE: HPY) will offer a streamlined process that enables merchants to accept American Express® Cards on Heartland's merchant processing platform.
By signing up for the new program, merchants who are new to American Express Card acceptance will have a single source for statements, settlement and customer service. Heartland will provide these merchants with payment processing services on behalf of American Express, while American Express will retain the Card acceptance contract with participating merchants, continue to establish merchant pricing, and receive the same transactional information it does today. The program will be available in the second half of 2008. Specific terms and conditions of the agreement are not being disclosed.
Bob Carr, chairman and chief executive officer of Heartland Payment Systems, said, "Until today, owners of small and mid-sized business had to deal with two separate platforms for card processing: one for American Express and one for all other cards. Our agreement with American Express simplifies card processing for these business owners. We look forward to helping ease the complexity of card processing for our customers with one unified statement and one place to call for live customer support."
"Merchants and consumers both benefit through this innovative program with Heartland Payment Systems," said Kim Goodman, executive vice president, Merchant Services North America, American Express. "Small to mid-size merchants now have the choice of a new way to streamline payment acceptance and consumers will enjoy the convenience of being able to use the American Express Card at even more locations."
About Heartland Payment Systems
Heartland Payment Systems, Inc., a NYSE company trading under the symbol HPY, delivers credit/debit/prepaid card processing, payroll and payment solutions to more than 162,000 small and mid-sized 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.
About American Express
American Express Company is a leading global payments, network, travel and banking company founded in 1850. Merchant Services is the merchant network of American Express, which acquires and maintains relationships with millions of merchants around the globe, which welcome American Express-branded Cards.
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, including whether or not the program launches on schedule, 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.
Contacts:
Sarah Meron
212.640.5503
Sarah.B.Meron@aexp.com