Heartland Payment Systems

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Heartland Payment Systems, Inc.
Type Public company
Industry Payment Processing
Founded 1997
Founder(s) Robert O. Carr [1]
Headquarters Princeton, NJ
Area served Worldwide
Key people Robert O. Carr
Revenue $2 Billion (2013) [2]
Employees 2000 (2013)
Website [1]


Heartland Payment Systems, Inc. (NYSEHPY) provides debit, prepaid, and credit card processing, online payments, check processing, payroll services and a growing line of industry solutions for small to mid-sized merchants. Founded by Robert O. Carr in 1997, Heartland Payment Systems is headquartered in Princeton, New Jersey. There are also offices nationally in Texas, Colorado, Tennessee, Oregon, Indiana, New York, Arizona, Kentucky, Pennsylvania and Ohio.

Transaction volume[edit]

Heartland Payment Systems processes transactions for more than 250,000 business locations in the United States.[3] Heartland Payment Systems currently processes more than 11 million transactions a day and more than $120 billion in transactions a year. Heartland focuses its efforts on small to mid-sized businesses.[4]

Security breach[edit]

On January 20, 2009 Heartland announced that it had been "the victim of a security breach within its processing system in 2008".[3] The data stolen included the digital information encoded onto the magnetic stripe built into the backs of credit and debit cards; with that data, thieves can fashion counterfeit credit cards by imprinting the same stolen information onto fabricated cards.[4]

Albert Gonzalez was indicted in August 2009 on charges of masterminding the attack.[5]

Re-validation[edit]

On May 1, 2009, Visa and Heartland issued a statement that Heartland successfully validated its compliance with PCI DSS and has been returned to Visa's list of PCI DSS Validated Service Providers.[6]

Several days later, on May 8, 2009, Gartner Analyst Avivah Litan stated that Heartland "is basically leading the way for the rest of the industry." She also noted that its plan for end-to-end encryption will be the first effort of its kind in the US.[7]

Litigation against Mercury Payment Systems[edit]

In January 2014, Heartland sued the company Mercury Payment Systems, an electronic payment provider, for alleged false advertising and "other deceptive trade practices".[8] The lawsuit concerns interchange fees charged by credit card networks and alleges violations of the Lanham Act and state laws.[9]

References[edit]

  1. ^ http://www.heartlandpaymentsystems.com/About-Heartland/Leadership-Team/Robert-O-Carr
  2. ^ http://www.nasdaq.com/symbol/hpy/revenue-eps
  3. ^ a b "Heartland Payment Systems Uncovers Malicious Software In Its Processing System". January 20, 2008. Retrieved 2009-01-21. 
  4. ^ a b Brian Krebs (January 20, 2009). "Payment Processor Breach May Be Largest Ever". Washington Post. 
  5. ^ Hacker Charged With Heartland, Hannaford Breaches - wired.com - August 17, 2009
  6. ^ Heartland Payment Systems Returns to Visa's List of PCI DSS Validated Service Providers
  7. ^ Security breach has cost Heartland £8.4m so far, Computerworld UK
  8. ^ Heartland Payment Systems. "Heartland Payment Systems Files Federal Lawsuit Against Mercury Payment Systems, LLC". Yahoo! Finance. Retrieved 11 February 2014. 
  9. ^ Villarreal, Alexandra. "Heartland files suit against Mercury Payment Systems over alleged illegal practices". Bank Credit News. 1/31/14. Retrieved 2/5/14.

External links[edit]