Heartland invests $20M in mobile payment solutions

Just yesterday we announced that First Data is taking large steps towards mobile payments, and it seems that they are not the only processors who see the massive potential in mobile payment solutions.

Heartland Payment Systems, a US-based payment processor with an annual revenue of $2 billion has invested $20 million in mobile commerce Startup Startup A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c A company operating within its first stage of investing is known as a startup. While startups may give the impression that the company must be new, that is not always the case.Many companies can have this designation after nearly three years of existence. Typically, a company exits the startup status after a period between 3 to 5 years or after successful funding rounds where capital is acquired. Startups tend to derive out of the belief that there is a demand for a service or product which is c Read this Term Leaf.

Leaf provides mobile solutions for merchants with existing accounts. The Cambridge, Mass-based startup differentiates itself from its competitors by not locking their merchants into working with one specific processor, but allows them to build on already functional accounts through an open source platform.

“People are carrying around sophisticated devices in their pockets with amazing capabilities to interact with business. What's good for the consumer is ultimately good for the business owner." David Gilbert, president of Heartland's hospitality group stated on the investment.

The investment is not the only part of the relationship, and Heartland has become one of Leaf’s developing partners, and will assist in adding value-added apps to help better the platform.

In addition to investing in Leaf’s mcommerce platform, the investment will also benefit Leaf’s foray into hardware with a merchant-oriented tablet called the LeafPresenter.

With so many processors either developing mobile applications, or linking themselves to others who specialize in mobile payments, we can see that supporting mobile options is now more of a standard for anyone who provides online payment solutions than an innovation