Thomas A. Wimsett has been elected president and chief executive officer by the board of directors of National Processing, Inc. He succeeds Robert E. Showalter, who is retiring from the company.
"Tom Wimsett has been instrumental in focusing National Processing on its core businesses of merchant credit card processing, imaging, and travel-related services," said Robert G. Siefers, chairman of National Processing and vice chairman and chief financial officer of National City Corporation. "Tom is knowledgeable and respected in his profession, and he will provide effective strategic direction and day-to-day leadership for the organization."
Wimsett previously served as executive vice president of National Processing's Merchant Services division. He began his career with National Processing in 1983 and has held a variety of managerial positions in each of the company's three business lines. In 1988 Wimsett was one of the primary executives responsible for establishing National Processing's first international operations in Juarez, Mexico. In 1994 he was responsible for the integration of two check acceptance firms acquired by National Processing. Wimsett was named executive vice president of National Processing and president of NPC Check Services, Inc. in 1995. In 1997 his responsibilities were expanded to include the company's Merchant Card Services business.
National Processing Company, the acquiring name for National Processing, Inc., holds an 11.5% U.S. market share, and ranks number two in any way the market is analyzed. National Processing ranks as the second-largest U.S. bankcard acquirer when all First Data alliance partners are combined, and also when each acquirer over $1 billion in volume is compared individually. NPC processes more than 1.7 billion transactions each year. With 351,000 merchant locations nationwide in 1998 NPC is expected to reach 500,000 merchant locations by year-end 1999.
Copyright © The Green Sheet, Inc., 1999. All rights reserved.
First Published November 1, 1999
