LOUISVILLE, Ky., May 22 -- National Processing Company (NYSE: NPC) (NPC(R)) a leading provider of merchant credit card processing and a wholly owned subsidiary of National Processing, Inc. (NYSE: NAP) announced the signing of a multi-year processing agreement with K*B Toys. Under the agreement, NPC will provide an end-to-end processing solution for all K*B Toys` Visa(R) and MasterCard(R) transactions.
K*B Toys is the nation`s largest combined mall-based and online specialty toy retailer operating more than 1,300 stores across the United States, Guam and Puerto Rico. Under the agreement NPC will provide front-end authorization and settlement services for all card-based transactions accepted at K*B Toys locations and outlets. NPC will also process all Visa and MasterCard transactions from online sales on their website, www.kbkids.com .
"We were impressed with the level of quality and service that NPC has continued to deliver retailers," said David MacPhee, vice president of Finance and controller for K*B Toys. "Partnering with NPC allows us to take advantage of processing scale and efficiencies as well as minimize costs associated with the acceptance of card-based transactions. NPC strives to understand and deliver merchant processing solutions that allows us to concentrate on issues critical to our business."
"NPC is delighted to continue its relationship with K*B Toys," said Mark Pyke, executive vice president of Merchant Services for NPC. "A key advantage of being a single-source processor is that we are able to partner with our clients. Since we are involved on an end-to-end basis, we are able to work more effectively with our clients to help expand their payment alternatives and reduce their cost."
About K*B Toys
K*B Toys is the nation`s largest combined mall-based and online specialty toy retailer, operating more than 1,300 stores in all 50 states, the American Territory of Guam and the Commonwealth of Puerto Rico, doing business as K*B Toys, K*B Toy Works, K*B Toy Outlet, K*B Toy Liquidators, K*B Toy Express and with Online Shopping at KBkids.com ( www.kbkids.com ). Offering a wide and competitively priced selection of toys and video games, commitment to customer service, convenient mall locations and a growing online shopping site, K*B Toys combines the speed of the Internet with the convenience of returns at any store. K*B Toys is headquartered in Pittsfield, Massachusetts, and employs more than 13,000 associates nationwide. K*B Toys became a privately held company in December 2000 through a management buyout in partnership with Bain Capital Inc.
About National Processing, Inc.
National Processing, Inc. through its wholly owned operating subsidiary, National Processing Company (NPC(R)) is a leading provider of merchant credit card processing. National Processing is 87 percent owned by National City Corporation (NYSE: NCC) ( www.nationalcity.com ), a Cleveland based $91 billion financial holding company. NPC supports over 500,000 merchant locations, representing nearly one out of every five Visa(R) and MasterCard(R) transactions processed nationally. NPC`s card processing solutions offer superior levels of service and performance and assist merchants in lowering their total cost of card acceptance through our world-class people, technology and service. Additional information regarding National Processing can be obtained at www.npc.net .
Dawn M. Thompson of National Processing Inc.
John P. Reilly, Public Relations of K*B Toys