CRANE MERCHANDISING SYSTEMS AND HEARTLAND PAYMENT SYSTEMS COLLABORATE ON BREAKTHROUGH CASHLESS VENDING SOLUTION
Industry Leaders Join Forces on Heartland Crane CashCard Solutions
Bridgeton, MO and Princeton, NJ - March 26, 2008 - Crane Merchandising Systems, a Crane Co. Company (NYSE: CR), and Heartland Payment Systems (NYSE: HPY), have joined forces to create an end-to-end credit card and cashless solution for vending, the companies announced today. Heartland is a leading provider of credit/debit/prepaid card processing, payroll and payment services. Crane is a global vending industry leader with multiple brands and business units across several continents.
The two market leaders have allied their research and development, design, production, and manufacturing expertise to develop the Heartland Crane CashCard Solutions. This comprehensive system applies the affordable use of cellular or Ethernet connectivity and local area machine-to-machine networking to provide credit card acceptance. Crane and Heartland will preview their solution at the NAMA Spring Expo in Las Vegas.
The components of the Heartland Crane CashCard Solution include
- A Crane/Heartland-developed Currenza bezel with a single-slot solution for operators seeking bill recycling and multiple cashless options using the same bezel
- Crane's Streamware Connect wireless remote monitoring solution, which provides connectivity
- Heartland's back-end credit card processing system and merchant services.
The solution provides comprehensive real-time reporting for cash and credit card settlements - as well as a guarantee that operators and bottlers will receive payment for credit card transactions within 48 hours.
"By aligning forces, Heartland and Crane match strength with strength," said Brad Ellis, president of Crane Merchandising Systems. "Heartland is a market leader in cashless payment hardware and processing solutions and brings daily bank settlement deposits, real-time web-based transaction data access and superior cashless technology to the vending channel. Crane - through our Streamware Connect remote monitoring solution - provides accurate, instantaneous vending machine reporting detail for sales, inventory replenishment and machine health alerts. Together, we are developing a cashless solution unlike any in the industry."
Ellis also noted, "Both Crane and Heartland offer world-class customer care. For vend operators, it's an end-to-end wireless solution that optimizes machine management and improves profitability."
Bob Carr, chairman and chief executive officer of Heartland Payment Systems, added, "Our joint vending solution with Crane Merchandising Systems sends a powerful message to vending operators that it is safe and smart to implement cashless vending right now."
The Heartland Crane CashCard Solutions will be available through Crane Merchandising Systems and Heartland Payment Systems' sales representatives. The solution is compatible with virtually any current vending machine and was designed to complement the Currenza bill acceptor/Recycler.
About Crane Merchandising Systems
Crane Merchandising Systems, a Crane Co. company, is a global vending industry leader with multiple brands and business units across several continents. It manufactures vending equipment under five brand names: National Vendors, Automatic Products, GPL, Dixie Narco, and Stentorfield. Business units include Streamware (vending software and market research); Crane Payment Solutions (NRI, CashCode, Telequip); and CMS Parts and Support.
Crane Merchandising Systems is the only OEM to offer a completely integrated solution, from payment systems, to equipment and software to aftermarket parts and service. Each CMS business unit leverages this breadth of resources, talent, and experience to provide its customers with superior products and service. For more information, visit www.cranems.com.
About Heartland Payment Systems
Heartland Payment Systems, Inc., a NYSE company trading under the symbol HPY, delivers credit/debit/prepaid card processing, payroll and payment solutions to more than 162,000 small and mid-sized businesses 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, visit www.heartlandpaymentsystems.com and www.MerchantBillOfRights.com .
Contacts:
Craig Lewis
Director of Product Marketing
Crane Payment Solutions
610.213.9765
clewis@cranems.com
Nancy Gross
Executive Director of Marketing
Heartland Payment Systems
888.798.3131 Ext. 2202
nancy.gross@e-hps.com