Heartland CEO Calls for Industry Cooperation to Fight Cyber Criminals and Adoption of End-To-End Encryption
23 Januar 2009 - 6:11PM
PR Newswire (US)
Company Reports Continued Growth of Merchant Base PRINCETON, N.J.,
Jan. 23 /PRNewswire-FirstCall/ -- Heartland Payment Systems added
more than 400 merchants to its client base in the past few days -
exceeding results for the same period from last year. "Our
organization and business model founded on fair dealings,
transparency and merchant advocacy have paid off these past few
days," stated Robert O. Carr, Heartland's founder, chairman and
chief executive officer. "This is demonstrated in the continued
organic growth of our merchant base. Despite the headwinds of the
economy and attacks by some of our competitors, we have installed
new merchants, new payroll clients and new check management clients
since our disclosure of the breach on Tuesday morning. Our record
of candor, fair dealing, no arbitrary rate increases since our
formation almost 12 years ago and superior customer service is
highly valued. "Merchants continue to respect Heartland for the
manner in which we do business. They appreciate our ongoing efforts
to help them manage the costs and complexities of payments
processing," Carr continued. "Our energized organization called on
the owners of more than 150,000 business locations these past three
days to help them understand the breach and what it means to them.
I couldn't be prouder of our entire organization for the way
everyone has pulled together to help." No confidential merchant
data, Social Security numbers, unencrypted personal identification
numbers (PIN), addresses or telephone numbers were retrieved in
what is believed to be a global cyber-fraud operation. Heartland
does not yet know how many card numbers were obtained. Many reports
in the press are speculative. Consumers will know if their card
account numbers have been used by reviewing their monthly
statements. Cardholders should report suspicious activity to their
issuing banks (the bank that issued the card, not the card brand).
If unauthorized use is confirmed, cardholders are reimbursed for
the fraudulent purchases and are not held financially responsible.
Over the past few days, Carr has been talking to many industry
leaders about working together to fight the cyber criminals who
victimized Heartland and continue to jeopardize companies,
consumers and data worldwide. "I have talked to many payments
leaders who are also concerned about the increasing success and
frequency of cyber crime attacks," Carr noted. "Up to this point,
there has been no information sharing, thus empowering cyber
criminals to use the same or slightly modified techniques over and
over again. I believe that had we known the details about previous
intrusions, we might have found and prevented the problem we
learned of last week." Heartland's goal is to turn this event into
something positive for the public, the financial institutions which
issue credit/debit cards and payments processors. Carr concluded,
"Just as the Tylenol(R) crisis engendered a whole new packaging
standard, our aspiration is to use this recent breach incident to
help the payments industry find ways to protect its data - and
therefore businesses and consumers - much more effectively." For
the past year, Carr has been a strong advocate for industry
adoption of end-to-end encryption - which protects data at rest as
well as data in motion - as an improved and safer standard of
payments security. While he believes this technology does not
wholly exist on any payments platform today, Heartland has been
working to develop this solution and is more committed than ever to
deploying it as quickly as possible. About Heartland Payment
Systems Heartland Payment Systems, Inc., a NYSE company trading
under the symbol HPY, 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
http://www.heartlandpaymentsystems.com/ and
http://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 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. For More Information:
Jason Maloni Phone: 202-973-1335 Email: DATASOURCE: Heartland
Payment Systems CONTACT: Jason Maloni of Heartland Payment Systems,
+1-202-973-1335, Web Site: http://www.heartlandpaymentsystems.com/
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