Heartland Payment Systems® and MICROS Renew Business Relationship

  • Oracle Hospitality Food and Beverage Solutions
  • 04.20.10
Heartland Payment Systems® (NYSE: HPY) and MICROS Systems, Inc. (NASDAQ:MCRS) have reached an amicable settlement of a 2007 lawsuit, and have concluded a restructured and expanded business relationship in which they are now working together to bring new payments solutions to the restaurant, lodging and retail industries.

Heartland, one of the nation’s largest payments processors, is one of the National Restaurant Association’s official preferred providers of card processing, payroll, check management, tip management and gift marketing services and an official preferred provider of card processing, payroll, check management and tip management services for the American Hotel & Lodging Association. MICROS is a leading provider of information technology solutions for the hospitality and retail industries.
 
The two companies are finalizing development of interfaces that will better integrate their respective products.  Heartland and MICROS are also collaborating on other product innovations designed to protect transactions originated by MICROS’s Simphony platform, an enterprise, service-oriented architecture POS product for the hospitality industry, with E3™. E3 is Heartland’s end-to-end security solution designed to protect cardholder data from the moment of swipe, to and through its processing network, and to participating card brands.
  
Initial development work integrating Heartland’s processing and MICROS’s POS system is expected to be completed in summer 2010.
 
Heartland Payment Systems, Inc. (NYSE: HPY), the 5th largest payments processor in the United States, delivers credit/debit/prepaid card processing, payroll, check management and payments solutions to more than 250,000 business locations nationwide. Heartland is a founding supporter of The Merchant Bill of Rights, a public advocacy initiative that educates merchants about fair credit and debit card processing practices.
 
MICROS Systems, Inc. provides enterprise applications for the hospitality and retail industries worldwide. Over 330,000 MICROS systems are currently installed in table and quick-service restaurants, hotels, motels, casinos, leisure and entertainment and retail operations in more than 130 countries and on all seven continents. In addition, MICROS provides property management systems, central reservation and customer information solutions under the brand MICROS-Fidelio for more than 25,000 hotels worldwide, as well as point of sale, loss prevention and cross-channel functionality through its MICROS-Retail division for more than 90,000 retail stores worldwide. MICROS stock is traded through NASDAQ under the symbol MCRS.
                                
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, including, without limitation, the risks that we may be unable to successfully develop and implement an interface to allow us to process payments directly from MICROS’s point-of-sale systems, our relationship with MICROS will not reduce customers’ expenses, our other product innovations with MICROS will not be successfully developed or implemented, we may be unable to successfully develop and implement end-to-end encryption technology, the card brands may not agree to accept encrypted data, the market may not accept the change from current encryption technology to end-to-end encryption technology and our end-to-end encryption may not work as intended.  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 annual report 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.



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