News

Heartland Payment Systems, MasterCard agree to $41.4 million settlement

May 19, 2010

Heartland Payment Systems, the nation's fifth largest payment processor, has agreed to a $41.4 million settlement with MasterCard and its issuers to resolve claims relating to the 2008 criminal intrusion into Heartland's payment system environment.

According to a press release, $41.4 million in offers will be made to eligible MasterCard issuers. MasterCard will recommend the issuers take the offers.

The settlement is contingent on 80 percent of the claimed-on accounts accepting the settlement offers by June 25.