Industry News | September 27, 2001

Sonic Corp. Will Accept Credit

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National Processing Company (NPC®), a leading provider of merchant credit card processing and a wholly owned subsidiary of National Processing, Inc. (NYSE: NAP), announced signing a multi-year agreement with Sonic Corp. for end-to-end processing services. Under the terms of the agreement, NPC will provide credit and debit card processing, including authorization and settlement, of all Visa® and MasterCard® sales.

Sonic Corp. (Nasdaq: SONC) is an Oklahoma City-based, publicly held company that owns, operates and franchises the largest chain of drive-in restaurants in the United States. Sonic enjoys the highest customer frequency rate in the quick-service restaurant industry. One of the unique features of Sonic is the Carhop, a member of the Sonic crew who delivers food directly to customers' cars.

"NPC is delighted to be selected by Sonic Corp. to be their credit and debit card processing solution,'' said Drew Soinski, senior vice president of Travel and Entertainment for NPC. NPC has recently signed several new clients in the quick service restaurant industry. "We have made a strong commitment to provide a full-service solution that meets the high quality and service standards that the quick service industry commands. NPC has quickly become a leader in offering innovative merchant processing solutions for quick service restaurants.''

"Adding Sonic to our existing customer base of quick service restaurants links directly with our strategy of focusing on new channels of growth,'' said Thomas A. Wimsett, president and chief executive officer of NPC. "NPC has made substantial investments in developing full-service processing solutions for the quick service industry thus providing new growth opportunities for our organization. Sonic is just the brand of customer we are targeting—a leader in their field with national presence and recognition, and a strong emphasis on quality and service.''

"It is exciting to partner with such an industry-leader as NPC,'' said Keith Jossell, vice president of Finance and Treasurer of Sonic Corp. Sonic consistently has among the highest convenience ratings in the industry. "Offering fast and efficient payment alternatives is another example of how we strive to put our customers first.''