WILMINGTON, Del. & PRINCETON, N.J.--(BUSINESS WIRE)--
The Bancorp Bank ("Bancorp"), a wholly owned subsidiary of The Bancorp,
Inc. (NASDAQ: TBBK), will provide sponsor bank services to Heartland
Payment Systems, Inc. (NYSE: HPY) ("Heartland"), one of the nation's
largest payments processors. Under the newly formed relationship,
Bancorp will serve as a sponsor bank for Heartland for a minimum of five
years and will participate as an Automated Clearing House (ACH)
originating institution for Heartland's card processing business.
Additionally, Bancorp and Heartland will pursue new opportunities
together in areas such as payroll, campus, government, bill payment and
healthcare.
"Bancorp is extremely pleased to have established this relationship with
Heartland," said Terrence Crowley, SVP of The Bancorp Bank. "Our
payments processing business model is to locate and accelerate
innovators in the payment industry. We seek out progressive firms with
which we can deploy our respective payments capabilities and deliver
value to our customers. Heartland fits our profile and, with its many
business lines, represents multiple future opportunities."
"We are excited about our relationship with The Bancorp Bank. Bancorp is
an enterprising financial institution and an ideal sponsor bank for
Heartland," noted Bob Carr, Heartland's chairman and chief executive
officer. "With Bancorp, we will continue to offer efficient,
state-of-the-art card processing solutions and look forward to a
successful relationship for years to come."
About The Bancorp, Inc.
The Bancorp, Inc. is a bank holding company that operates The Bancorp
Bank, an FDIC-insured commercial bank that delivers a full array of
financial services and products both directly and through private-label
affinity partner programs nationwide. The Bancorp Bank's payments
offering includes card issuing, card acquiring, ACH, wire transfer
services and customized deposit account structures. The Bancorp Bank
maintains membership with numerous payments networks including Visa,
MasterCard, Star, NYCE, PULSE and Discover. For more information, please
visit TheBancorp.com.
About Heartland Payment Systems
Heartland Payment Systems (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 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, please visit
HeartlandPaymentSystems.com, MerchantBillOfRights.org, CostOfABurger.com
and E3secure.com.
Source: The Bancorp, Inc. and Heartland Payment Systems, Inc.
Contact: The Bancorp Bank
Andres Viroslav, 215-861-7990
andres.viroslav@thebancorp.com
or
Vault Communications
Leanne Scott Brown, 610-455-2742
LBrown@VaultCommunications.com
or
Heartland Payment Systems
Nancy Gross, 888-798-3131 x2202
Nancy.Gross@e-hps.com