Heartland Payment Systems (heartlandpaymentsystems.com) is a very large merchant account provider based out of Princeton, New Jersey. The company was founded in 1997 and, according to several reports, ranks as the fifth-largest processor in the United States and processes over $80 billion in credit card transactions annually. Heartland was acquired by Global Payments in December 2015.
The company made national headlines in 2008 when Heartland’s computer systems were infiltrated by a computer hacker named Albert Gonzalez, who subsequently stole the data of more than 130 million credit cards. While this could have spelled doom for such a prominent company, Heartland responded very quickly to repair the damages and prevent future security breaches. Heartland now regularly updates its security systems and, understandably, takes data security very seriously. Additionally, Heartland seems to have a strongly embedded philosophy of educating merchants about payment processing, even going so far as to dedicating an entire website dubbed the “Merchant Bill of Rights” to fulfilling this purpose.
Heartland also appears to be one of the very few merchant account providers that is actively passing Durbin Amendment savings on to merchants. For those who are unaware, the Durbin Amendment is a flawed bill that forced banks to reduce debit card interchange fees but did nothing about requiring third-party processors and sales organizations to pass the savings on to the merchant, which most do not. Heartland Payment Systems Inc. is a registered ISO/MSP of Wells Fargo Bank, N.A., Walnut Creek, California, and The Bancorp Bank, Philadelphia, Pennsylvania. The company’s headquarters are located at 90 Nassau St Fl 2, Princeton, New Jersey 08542. The chairman and CEO of Heartland is Robert Carr.