Starbucks Expands Current Processing Relationship with National Processing Company
Thursday September 4, 8:55 am ET
biz.yahoo.com
LOUISVILLE, Ky., Sept. 4 /PRNewswire-FirstCall/ -- National Processing Company (NPC®), a leading provider of merchant credit and debit card processing and a wholly owned subsidiary of National Processing, Inc. (NYSE: NAP), announced a multi-year agreement to process Canadian credit card transactions for Starbucks Corporation (Nasdaq: SBUX). NPC currently provides authorization and settlement services for all U.S.-based MasterCard®, VISA® and Diners Club® transactions for Starbucks' retail, catalog and on- line sales. Under the terms of the latest agreement, NPC will provide authorization and settlement services for all Starbuck's Canadian MasterCard and VISA transactions as well.
Starbucks opened its first location in Seattle's Pike Place Market in 1971, and since has established itself as one of the most recognized and respected brands in the world. The company primarily sells whole bean coffees through a specialty sales group, a direct response business, supermarkets, and online at Starbucks.com . Additionally, Starbucks produces and sells bottled Frappuccino® coffee drink and a line of premium ice creams through its joint venture partnerships; as well as offering a line of innovative premium teas produced by its wholly owned subsidiary, Tazo Tea Company.
"NPC merchants, like Starbucks, want a single-source provider that can support both their U.S. and Canadian activity," said Tim Munto, senior vice president and general manager of National Sales for NPC. "NPC is committed to growing our business by expanding products and service offerings with existing customers, as well as signing new clients. NPC has a long history of electronic payment processing and is delighted to be chosen by Starbucks to process their Canadian transactions." |
