The Bancorp Bank, a wholly owned subsidiary of The Bancorp, will provide sponsor bank services to Heartland Payment Systems, one of the nationâs 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 Heartlandâs 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. âOur 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.â
âWe are excited about our relationship with The Bancorp Bank. Bancorp is an enterprising financial institution and an ideal sponsor bank for Heartland,â noted Bob Carr, Heartlandâs chairman and chief executive officer. âWith 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.â
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.
