FOR IMMEDIATE RELEASE
July 2, 2007
Contact: K.E. Schwab
Slippery Rock University taps Heartland for unique ID program
SLIPPERY ROCK, Pa. - Heartland Payment Systems, (NYSE: HPY), a leading provider of credit/debit/prepaid card processing, payroll and payment services, has been selected by Slippery Rock University of Pennsylvania to deliver the convenience and security of contactless payments by cell phone to students and faculty.
This first-of-its-kind college campus solution in the United States - developed by Heartland's new micro-payments division - capitalizes on two well-established trends: the ubiquity of the mobile phone among college students; and the popularity of new contactless, or tap-and-go, payments among American consumers.
Beginning in July, SRU's 8,500 students, faculty and staff will receive a new official campus ID card and a separate contactless token designed for use with their mobile phones.
Using either the card or the phone, they will be able to make payments at on-campus locations as well as participating merchants in the surrounding community. During the summer, campus vending machines, laundry facilities, photocopiers and printers will be outfitted with dual technology readers to enable contactless payments via mobile phone in addition to the traditional ID card payments.
"Students are great innovators, yet for the past two decades, payments on campus have remained fundamentally unchanged," Robert O. Carr, chairman and chief executive officer of Heartland Payment Systems said. "We are excited to partner with Slippery Rock University to help launch the next generation of campus card programs. This new product launch allows us to showcase our next generation of micro-payments technology at a well-known school led by an innovative administration. This is just the first step for us in ushering in a new era of payment processing that will soon include additional phases of low-cost convenience for universities, students and merchants alike."
"Since it's inception in 1889, Slippery Rock University has been on the leading edge of educational innovations," Robert Smith, president of the University, said. "We are excited to partner with Heartland Payment Systems to implement this new technology and know that it will deliver a level of speed and convenience our students demand."
The new mobile phone tokens incorporate the same standards-based contactless technology (ISO 14443) used worldwide by MasterCard, Visa and leading card issuers in the payment and identity sectors.
The technology enables data to be read without physical insertion into - or contact with - a card reader. Thus, it is more convenient and secure than prior payment options. By design, the phone must be held in close proximity - no more than 2 inches - to an approved contactless reader for communication to occur.
The new Rock Dollars card and ID token provide access to a fully functional debit account that is FDIC insured. Student financial aid will be distributed to the new accounts, and funds can be added or withdrawn from select ATMs. A robust Web site and voice response system enable 24/7/365 account access for balance inquiries, funds transfer, and other tasks.
"We anticipate that our work with Slippery Rock University this summer will generate major interest from other campus administrators and local merchants as they see the benefits and opportunities for improved student service and administrative and payment cost savings," Carr said.
Heartland received the award through a competitive bid process initiated in March by Slippery Rock. Nationwide, Heartland processes $55 billion in transaction volume annually for more than 150,000 merchants. The company has served as Slippery Rock University's payment processor for nearly 10 years.
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.
About Slippery Rock University
Rock University is Pennsylvania's premier public residential university. A member of the Pennsylvania State System of Higher Education, Slippery Rock University provides students with a comprehensive learning experience that intentionally combines academic instruction with enhanced educational and learning opportunities that make a positive difference in their lives.
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.
Source: Heartland Payment Systems
Heartland Payment Systems
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