For Immediate Release
HEARTLAND PAYMENT SYSTEMS AND PARCXMART FINALIZE STRATEGIC EQUITY PARTNERSHIP DEAL
Heartland and Parcxmart also sign exclusive marketing agreement targeting merchants nationwide.
Princeton, NJ — June 14, 2007 — Heartland Payment Systems, Inc., a leader in the payments processing industry, has closed a deal that increases its strategic investment in Parcxmart Technologies, an electronics payments company. The two companies also signed an exclusive marketing agreement whereby Heartland’s national sales network has exclusive rights to sell Parcxmart’s payment system to merchants nationally.
The Parcxmart™ Card and patent-pending payment solution is America's first fully functional parking and local merchant smart card payment system. The platform uses smart card technology that offers a convenient one-card alternative to coins and cash for small dollar transactions. The Parcxmart Card can be used at on-street and off-street parking locations as well as for retail purchases at participating merchants.
“Heartland’s equity partnership investment in Parcxmart and our exclusive marketing agreement is good for both companies,” said Robert O. Carr, chairman and CEO of Heartland. “Adding smart card technology – as well as Parcxmart’s leading-edge solution to parking and micro payments – helps both of our organizations grow. Most importantly, though, as Heartland continues to expand our suite of efficient, cost-effective payments solutions, we continue to empower merchants to enhance their operations. Helping merchants advance their own businesses is one of our core principles.”
Capitalizing on Heartland’s national sales force of 1500, the two companies will market Parcxmart’s smart card payments solution across the country.
“Following our discussions at the recent International Parking Institute show in Tampa, it is clear to us that cities are interested in adopting programs that are comprehensive in their approach and have the infrastructure to provide the necessary support,” said John Regan, president and CEO of Parcxmart Technologies. “Parcxmart offers this – and together with Heartland – we’ll be able to bring our leading-edge technologies to municipalities, merchants and consumers nationwide.”
Currently, Parcxmart's smart card payment system is fully operable in Bridgeport, CT, New Haven, CT and Truckee, CA.
“In these cities, the Parcxmart Card acts as the municipality’s card, providing people with an easy payment method that makes downtown shopping and parking convenient,” continued Carr. “This, in turn, supports the economic development of these communities. The faster we are able to grow the merchant network, the more each city can benefit from the ease of use and convenience Parcxmart offers.”
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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 150,000 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.
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.
Nancy Gross
Heartland Payment Systems
888-798-3131 ext. 2202
or
Joe Crivelli
Senior Vice President
Gregory FCA Communications
610-642-8253 ext. 123
Or
Peter Littell
Parcxmart Technologies
413-665-3519