Heartland Payment Systems – HPY – Acquires ECSI
NYSE: HPY), one of the nation’s largest payments processors, has expanded its Campus Solutions division by acquiring ECSI, a leading provider of cost-effective, customized payments processing solutions for the higher education industry.
Founded in 1972 and located in Pittsburgh, Pa., ECSI supports the entire life cycle of higher education and post-graduation school/student services, including student loan payment processing, default solutions, refund services, tuition payment plans, electronic billing and payment, tax document services, and business outsourcing to more than 1,800 colleges and universities nationwide.
In addition to retaining ECSI’s more than 150 employees and its Pittsburgh-based operations, Heartland Campus Solutions will gain ECSI’s client portfolio, boosting its higher education client roster to more than 2,000 colleges and universities throughout North America. Heartland will also add all of ECSI’s products and services to its existing suite of campus solutions, including campus payments, Acceluraid™ and its Campus OneCard™ System, allowing Heartland to offer one-stop shopping for colleges and universities, which is unique to the higher education industry.
“As the Heartland Campus Solutions division grows to become a more significant portion of Heartland’s business, we’re confident that acquisitions such as ECSI will better position us for faster growth,” said Michael A. Lawler, president, strategic markets group, Heartland Payment Systems. “Our combined suite of products, services and solutions offers higher education institutions opportunities to streamline processes and increase operational efficiency while providing enhanced convenience and value to students. We look forward to working with our new employees and university client partners that we gained through this acquisition.”
Heartland Campus Solutions presently offers financial aid disbursement, campus card and payment processing solutions to higher education institutions throughout North America. Earlier this year, the division introduced three feature-laden, user-friendly mobile applications for higher education institutions and students, including MyPay, the first-ever mobile payment application and virtual campus ID card. The division also announced a number of new contracts for management of financial aid disbursement through Acceluraid, and for its Campus OneCard System, a robust campus management system and multi-functional campus ID card.
About Heartland Payment Systems – HPY
Heartland Payment Systems, Inc. (HPY), the sixth largest payments processor in the United States, delivers credit/debit/prepaid card processing, school solutions, loyalty marketing services, campus solutions, payroll and related business solutions and services to more than 250,000 business and education locations nationwide. A FORTUNE 1000 company, HPY 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. HPY is also a leader in the development of end-to-end encryption technology designed to protect cardholder data, rendering it useless to cybercriminals.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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