In May of 2000, Heartland Payment Systems Inc. dissolved its relationship with Heartland Bank. The two organizations agreed to end their partnership on all levels, except to establish a servicing agreement for mutual merchant customers and to develop a mutual agent bank servicing relationship. Princeton, N.J., became the new headquarters for HPS.
NACHA - The Electronic Payments Association reported that between January 1998 and January 2000, the number of check conversions grew from less than 50,000 per month to more than 1.5 million monthly. During the same period, the number of business locations signed up for check conversion grew from 515 to 24,656.
Coinciding with the emergence of the dot-com era, merchant service providers such as S&S Bankcard Systems added new services for this burgeoning sales channel. S&S introduced its fully integrated e-commerce solutions for businesses engaged in Internet commerce.
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