Chase Merchant Services Now Providing Payment Processing for American Airlines

Business Wire, May 10, 1999

MELVILLE, N.Y./ATLANTA--(BUSINESS WIRE)--May 10, 1999--

--Volume Expected to Exceed $5 Billion--

Chase Merchant Services, L.L.C., a joint venture between The Chase Manhattan Bank (NYSE:CMB) and First Data Merchant Services Corporation, today announced an agreement to process Visa and MasterCard transactions for American Airlines, the world's second largest carrier with bank card volume in excess of $5 billion.

The multi-year processing agreement includes transaction processing, settlement and funding services. American Airlines converted to Chase Merchant Services to take advantage of the unique products and services it offers. Specifically, American Airlines will utilize products that enable it to electronically resolve chargebacks and view real-time financial data essential to its day-to-day operations. Chase Merchant Services will help American Airlines to virtually eliminate its need for paper by using electronic solutions.

"Fast, accurate credit card processing, and world-class customer service are critical to our business," said Doug Herring, Vice President and Controller of American Airlines. "We look forward to a long, productive relationship with Chase Merchant Services."

"We are pleased that we can serve the processing needs of such a well respected leader in the airline industry," said Diane Vogt, Chief Executive Officer of Chase Merchant Services. "Our commitment to providing the latest technologies and superior products enables us to support our clients' initiatives and develop mutually beneficial, long-term business relationships."

American Airlines and its regional partner American Eagle, together serve 239 cities in 49 countries with over 3,600 daily flights. American and American Eagle fly more than 93 million passengers annually.

Chase Merchant Services is the nation's largest merchant acquirer and the provider of comprehensive Internet-based solutions for merchants. Chase Merchant Services processes nearly 2 billion transactions a year and more than $120 billion in annual credit and debit card sales volume at the point of sale and over the Internet. Chase Merchant Services is a joint venture between First Data Merchant Services Corporation, a leading processor of Visa and MasterCard transactions, and The Chase Manhattan Bank, the fourth largest bankcard issuer in the United States. Chase, with more than $360 billion in assets, has relationships with more than 30 million consumers coast to coast. Chase can be reached on the Web at www.chase.com.