Heartland Payment Systems, Inc. (HPY) Wednesday said it renewed and expanded the card processing agreement with ConocoPhillips (COP) with a five-year contract.
Under the expanded contract, Heartland Network Services group would continue to authorize debit and credit card transactions at ConocoPhillips-branded locations nationwide. The group would now also begin settling Visa and MasterCard credit card transactions at ConocoPhillips-branded locations.
The expanded card processing agreement is being supported by a new partnership between Heartland and Barclays Bank Delaware, the U.S. operation of Barclaycard, which will be delivering the payment network sponsorship services for the ConocoPhillips transactions.
Bob Carr, Princeton, New Jersey-headquartered Heartland's chairman and CEO, said," We're proud to continue and expand our 20-year relationship by delivering secure, PCI-compliant network transaction processing services to ConocoPhillips branded locations across the country."
HPY is currently trading at $22.48, down $0.12 or 0.53%, on the NYSE. Over the past year, the stock traded in a range of $15.27 - $23.31.
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