Heartland Payment Systems is working with BitPay to identify businesses and organizations best suited to use Bitcoin as a payment method. The arrangement would have them referred to BitPay’s platform, which so far supports over 50,000 merchants.
Heartland provides payment processing, payroll and loyalty program solutions to businesses. It was founded in 1997 and has grown to over 3,100 employees. It recorded $2.1 billion in revenues in 2013.
Stocks to Watch This Week – Expedia Group, IncGo to article >>
It reportedly supports 300,000 businesses and educational institutions in the United States, processing over 11 million transactions a day worth in excess of $80 billion annually. Thus, the onboarding of a payment processor of this size can have a meaningful impact as BitPay continues to try to bring bitcoin payments to the masses.
Over the past three years, Heartland has acquired several smaller niche payment technology providers. One of the more recent deals was with Touchnet Information Systems, which reportedly had over 600 higher education institutions as clients, catering to over six million students–nearly one third of the enrollment in the U.S.