SPS Payment Systems Inc. has purchased the private label card portfolio of NTB National Tire and Battery, a division of Sears, Roebuck and Co.
SPS, a card-issuing and processing subsidiary of Associates First Capital Corp. of Dallas, was started and spun off by Sears and until last year was a division of Morgan Stanley Dean Witter & Co.
As issuer of the NTB card, SPS will provide a full range of card services for the chain of tire and battery stores.
"NTB is a growth company with a strong brand name and focused retail format," said Don Berman, SPS executive vice president of consumer private label services. "We are very excited about becoming a bigger part of their sales growth."