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Article: 3Q RESULTS: Heartland Swings Back At VeriFone and to Loss.(Cards)(Financial report)
- Article from:
- American Banker
- Article date:
- November 5, 2009
- Author:
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Kevin Woodward
Heartland Payment Systems Inc.'s merchant clients may be caught in the middle of a legal dispute between the merchant processor and VeriFone Holdings Inc., which provides payment terminals to most of Heartland's clients.
The two companies have sued each other, with VeriFone claiming that a still-in-development terminal design from Heartland infringes on one of its patents, and Heartland claiming that VeriFone is engaging in unfair trade practices.
VeriFone, of San Jose, said previously that it would no longer provide maintenance or updates to Heartland clients using its terminals after Dec. 31. But on Tuesday it appeared ...