What does NPC stand for?

Specific entry barrier problems identified by the Commission include: Banks dealing jointly with retailers wishing to join a payment card network instead of competing, giving retailers just one offer for the network concerned; Vertical integration of many national payment card systems can impede new entrants; Divergent technical standards across the EU prevent many service providers from operating efficiently on an EU-wide basis; Some payment systems exclude non-banks from the cards business and sometimes charge high joining fees to new entrants; The lack of multilateral clearing houses in some markets may make entry more expensive.

Lexy, Wowd and National Payment Card Association have secured new funding from KPG Ventures while the venture capital firm is investing in a new round of funding for Cake Financial.

SAN FRANCISCO -- KPG Ventures--a venture capital firm specializing in seed-stage disruptive technology companies, today announced it has invested $2 million in National Payment Card Association, an emerging company responsible for creating a large scale, low cost debit settlement system benefiting consumers and merchants with lower transaction fees.