National Processing Co., a National City Corp. unit, has agreed to sell its freight services and corporate payables processing businesses to Investment Services International Co., for about $36 million.

The sale to Investment Services, a privately held merchant banking firm in Washington, is expected to close during the first quarter. National Processing, which is majority-owned by the Cleveland-based banking company, said it would focus on core operations, including credit card transactions. It said Monday that it is also looking into selling its remittance processing and merchant check services operations.

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