ational Processing Co., LLC has acquired ISO Bridgeview Payment Solutions, Inc. from Bridgeview Bank and Trust Co. NPC paid $32.3 million for all outstanding shares of BPS, and the deal closed Monday, June 9, 2003.

BPS has corporate offices in Chicago and Tampa, Fla., and has been processing credit and debit card transactions for U.S. merchants since 1993.

BPS processes for more than 28,000 small to midsize merchants and signs approximately 1,500 new accounts per month through its network of ISOs and sales agents. The company's merchant customers rang up approximately $1 billion in credit card sales in 2002.

Bridgeview recently was voted "Best ISO" by subscribers of The Green Sheet as featured in the GS poll of Best Payment Processing Players ("2003 Best of the Best" The Green Sheet, June 9, 2003, issue 03:06:01).

Louisville, Ky.-based NPC ranked third in the U.S. for 2002 in the list of billion dollar bankcard acquirers published in the January 2003 issue (volume 6, number 1) of GSQ.

NPC processes for more than 645,000 merchant locations, which represents about one out of every five MasterCard and Visa transactions in the U.S. National City Corp. owns 85% of National Processing Inc., the parent company of NPC.

NPC became interested in BPS while exploring options to increase its market share of small to midsize merchants. It was attracted to BPS's strong merchant portfolio and ISO distribution channel as well as its risk-management tools, according to NPC executives.

"Having partnered with NPC for several years, we are confident that they will continue to take this business to new levels," Tom Haleas, Chairman of Bridgeview Payment Solutions, said in a statement.

"We feel strongly that BPS's current employees, ISOs and independent agents will have the opportunity to further prosper under NPC leadership."