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Leaf Closes $20 Million in Funding to Advance Open Commerce Platform and Mobile POS

  Leaf Closes $20 Million in Funding to Advance Open Commerce Platform and
  Mobile POS

 Investment from Heartland Payment Systems® Accelerates Development to Enable
                           Greater Merchant Choice

Business Wire

CAMBRIDGE, Mass. -- October 1, 2013

Leaf, creator of the LeafPresenter^TM, a tablet specifically designed for
commerce, today announced it has closed $20 million in its first round of
institutional funding from Heartland Payment Systems (NYSE: HPY), one of the
nation’s largest payments processors and a leading provider of merchant
business solutions. The funding will accelerate Leaf’s mission to provide a
unified, open commerce platform that redefines the way brick and mortar
merchants operate. The Leaf platform enables integrated commerce solutions and
gives merchants the ability to choose the business tools that best fit their
needs. Leaf will use the funds to advance manufacturing capabilities of its
proprietary, purpose-built tablet, the LeafPresenter, and expand its team of
talented developers and employees to grow the LeafBusiness^TM application and
the Leaf Appstore^TM.

In addition to the investment, Heartland has also joined Leaf’s growing
network of distribution partners with its national sales force of more than
800 relationship managers. In addition to its core card processing service,
Heartland will be building an array of value-added apps on the Leaf platform –
including payroll, and mobile and online ordering, among others.

“While discussing a major distribution deal with Heartland, it became clear
that we have much deeper synergies than simply selling together. Heartland is
spearheading a new wave of innovation across the industry that aligns with our
mission of creating an open platform that empowers business owners to
aggregate valuable services under one digital fingerprint,” said Aron
Schwarzkopf, co-founder and CEO of Leaf. “Local merchants have very different
needs, so enabling their success with new technology is all about giving them
options to create an experience that’s most valuable for them and their
customers. Our flexible platform lets merchants choose processing services
from Heartland or any number of other providers, as well as vertical-specific
POS applications from Leaf or any other player in the industry.”

By bundling Leaf with their core payment products, organizations like
Heartland and others within the Leaf Membership Network can strengthen their
relationships with merchants by delivering additional value-added business
tools, while also benefiting from new revenue streams and more loyal
customers. Early partners of the program have substantially increased new
merchant acquisition.

“We look forward to working with Leaf and a consortium of service providers to
advance how merchants gain advantage in this increasingly omni-channel world,”
said Bob Carr, chairman and CEO of Heartland. “Leaf’s platform is truly open
in the sense of allowing business owners the freedom to work with the payments
and business solution providers that they deem best for their individual
businesses. Leaf’s innovative approach represents a major paradigm shift in
hospitality and retail technology – one that enables operators to affordably
and quickly integrate and leverage exciting new technologies as they adapt to
the ever-changing business landscape.”

The Leaf platform, which consists of the LeafPresenter tablet, LeafBusiness,
and the Leaf Appstore, gives local merchants everything they need to run and
grow their businesses.

The LeafPresenter is a tablet built specifically for business. Whereas many
new payment technology companies have developed dongles that plug into
smartphones and tablets, Leaf built a tablet to specifically address the needs
and rigors of the business operating environment. With technology including a
magnetic stripe card reader, near field communication (NFC), Europay
MasterCard Visa (EMV), and front- and rear-facing cameras, the LeafPresenter
is capable of accepting payments via traditional payment cards, gift cards,
next-generation payment methods such as PayPal and LevelUp, and a number of
mobile wallets. Leaf also allows merchants to work with the payment processor
of their choice because of its neutral approach to payment acceptance.

LeafBusiness is a cloud-based business analytics and management portal that
provides valuable insight for small business owners and helps them make sense
out of their data. Designed to integrate with third-party applications and
tools, it includes everything from employee management (e.g., time tracking,
labor reports, etc.) to performance analytics, including the ability to
cross-reference and sort sales by a wide variety of variables (e.g., specific
items, categories, times of day, seasons, employees, etc.). Because it runs in
the cloud, LeafBusiness functions in real time and is accessible from any
device, so a business owner can stay up-to-date on their business at any time
and anywhere.

The Leaf Appstore, currently in beta, is designed to supplement and extend
Leaf’s core features. This fosters an ecosystem enabling the developer
community to create new, innovative applications that run on the
LeafPresenter, integrate with LeafBusiness, and assist merchants in better
managing their businesses and engaging with customers. For example, developers
can create customized apps that cater to specific business needs or vertical
markets, offering solutions to challenges that are not easily addressed on
legacy platforms. Examples include payroll and inventory management,
restaurant reservation systems, kitchen display systems, or appointment tools.
Early participants in the Appstore include companies such as LevelUp, Paypal,
and Freshtxt, among others.

About Leaf

Leaf empowers local merchants to run and grow their businesses by providing a
mobile payment platform built for local commerce. Leaf’s cost-effective
product helps retail stores, restaurants, and other local merchants improve
the speed and ease of checkout and offers easy-to-use business management,
analytics, and customer engagement. By making the complex tasks of running a
business easy, Leaf allows merchants to spend more time focusing on what’s
important – the needs of their customers. For more information on how Leaf is
transforming Point of Sale into Point of Smart, visit http://www.leaf.me.

About Heartland Payment Systems

Heartland Payment Systems, Inc. (NYSE: HPY), the fifth largest payments
processor in the United States, delivers credit/debit/prepaid card processing,
mobile commerce, e-commerce, marketing solutions, security technology, payroll
solutions, and related business solutions and services to more than 275,000
business and educational locations nationwide. A FORTUNE 1000 company,
Heartland is the founding supporter of The Merchant Bill of Rights, a public
advocacy initiative that educates merchants about fair credit and debit card
processing practices. Heartland also established The Sales Professional Bill
of Rights to advocate for the rights of sales professionals everywhere. More
detailed information can be found at HeartlandPaymentSystems.com,
HeartlandPaymentSystems.com/Careers, HeartlandPaymentSystems.com/Blog or
following the company on Twitter @HeartlandHPY and Facebook at
facebook.com/HeartlandHPY.

Contact:

fama PR for Leaf
Mike Reilly, 617-986-5008
leaf@famapr.com
or
Vault Communications for Heartland Payment Systems
Pamela Caruolo, 610-455-2746
pcaruolo@vaultcommunications.com