Heartland Payment Systems® Signs Three-Year Contract Extension With CITGO Petroleum Corporation for Card Processing

SOURCE: Heartland Payment Systems

April 17, 2012 09:40 ET

PRINCETON, NJ--(Marketwire - Apr 17, 2012) - Heartland Payment Systems (NYSE: HPY), one of the nation's largest payments processors, today announced that it has signed a three-year contract extension with CITGO Petroleum Corporation to continue authorizing debit and credit card transactions at approximately 6,000 CITGO-branded locations nationwide.

Heartland is one of the leading payments processors in the convenience store and petroleum industry, with more than 49,000 petroleum and convenience stores using Heartland's comprehensive suite of products and services, including credit card processing, gift card marketing, prepaid services, payroll services and SmartLink^™(www.heartlandpaymentsystems.com/SmartLink). A CITGO endorsed product, SmartLink is a secure managed network service that, combined with secure payment processing capabilities, effectively supports transaction data and back-office systems, allowing petroleum and convenience store operators to spend less time managing their networks and more time focusing on their business.

"This contract agreement extends a decades-long relationship between Heartland and CITGO that is driven by Heartland delivering advanced, PCI-compliant network transaction processing services, SmartLink managed network solutions, customized help desk support and terminal services to CITGO-branded locations across the country," said Robert O. Carr, Heartland chairman and CEO. "It's a successful working relationship that benefits both organizations, as well as consumers that visit CITGO stations."

Gustavo Velásquez, CITGO vice president of supply and marketing, added, "Heartland provides our retail locations with dependable and secure card processing solutions as well as exceptional customer service. Furthermore, Heartland's extensive knowledge of payments processing in the petroleum industry ensures that our retail locations process card payment transactions smoothly and securely, which is vital to our customers."

About CITGOCITGO, based in Houston, is a refiner, transporter and marketer of transportation fuels, lubricants, petrochemicals and other industrial products. The company is owned by PDV America, Inc., an indirect wholly owned subsidiary of Petróleos de Venezuela, S.A., the national oil company of the Bolivarian Republic of Venezuela. For more information, visit www.citgo.com.