Chase Merchant Services, L.L.C. (CMS), a joint venture between Chase Merchant Ventures, Inc., a subsidiary of The Chase Manhattan Bank, (NYSE: CMB) and First Data Merchant Services (FDMS), a subsidiary of First Data Corp. (NYSE: FDC), announced today that Frontier Airlines (NASDAQ: Frontier Airlines (Nasdaq: FRNT), the second largest jet service carrier at Denver International Airport, has signed a three-year agreement for merchant processing services.
Under the terms of the agreement, Chase Merchant Services will provide Frontier Airlines with credit card processing services: transaction processing, as well as settlement and funding. Last year Frontier Airlines conducted more than 534,000 bankcard transactions, totaling more than $156 million in bankcard volume. Denver-based Frontier Airlines serves 23 cities coast to coast with a fleet of 25 Boeing 737 jets and employs approximately 2,200 aviation professionals.
“We selected Chase Merchant Services because of its great strength and ability in implementation, relationship management and payment industry knowledge,” said Elissa Potucek, vice president - controller and treasurer of Frontier Airlines. “The fact that CMS has a processing department dedicated solely to the airline industry was a major factor in our decision.”
“Chase Merchant Services continues to expand our products and services so that we can provide payment processing solutions to our clients, including airlines such as Frontier, enabling them to provide additional payment options to their customers,” said Roy Waldvogel, vice president of global aerospace sales for Chase Merchants Services.
About Frontier Airlines:
Denver-based Frontier Airlines serves 23 cities coast to coast with a fleet of 25 Boeing 737 jets and employs approximately 2,200 aviation professionals. The airline is the second largest jet service carrier of Denver International airport with an average of 112 daily systemwide departures and arrivals. Unlike other airlines, Frontier`s low fares do not have a Saturday night stay requirement. In addition, Frontier offers frequent flyer miles in Continental Airlines` OnePass® program. In 1999, Frontier was names “Best Low-Fare Carrier” by Entrepreneur Magazine in the publication`s sixth annual Business Travel Awards. Also in 1999, the airline received the Federal Aviation Administration`s (FAA) prestigious Aviation Maintenance Technician Employers Diamond Certificate of Excellence Award, which provides special recognition to airlines that have 25 percent of eligible employees complete an advanced aircraft maintenance training program. One hundred percent of Frontier`s maintenance employees completed the advanced maintenance training program. Frontier`s Web site may be viewed at http://www.frontierairlines.com.
About Chase Merchant Services:
Chase Merchant Services, L.L.C., is the nation`s largest merchant acquirer and the provider of Internet-based solutions for merchants and can be reached on the Web at http://www.chase.com/merchantservices. Chase Merchant Services processes over 2 billion transactions a year and more than $150 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, a subsidiary of First Data Corp., the leading bankcard transaction processor, and Chase Merchant Ventures, Inc., a subsidiary of The Chase Manhattan Bank, the fourth largest bankcard issuer in the United States. The Chase Manhattan Corporation is a premier global financial services firm with assets in excess of $396 billion. Chase can be reached on the Web at www.chase.com.