Industry News | October 31, 2000

Triarc Joins with Chase Merchant Services

Bookmark/Share this post with:
Email this story Email this story
Printer-friendly versionPrinter-friendly version
Chase Merchant Services, L.L.C announced today that Arby's, Inc., on behalf of Triarc Restaurant Group, (NYSE: TRY), has signed a three-year contract with Chase Merchant Services for payment processing services.

Under the agreement, Chase Merchant Services will provide Triarc Restaurant Group, which includes restaurant brands such as Arby's, Pasta Connection and T.J. Cinnamons, the ability to accept credit cards from customers. Triarc Restaurant Group operates more than 3,200 locations in the U.S., Canada, and other countries worldwide with systemwide sales of more than $2.3 billion in 1999.

"After weighing many options, we selected Chase Merchant Services because of its extensive reporting capabilities, expertise in processing and their relationships with banks in the United States, Canada and the United Kingdom,'' said, Lynne Bever, director audit services, Triarc Restaurant Group. "Chase Merchant Services enables Triarc Restaurant Group to be a forerunner in card acceptance in the quick service restaurant industry.''

"Chase Merchant Services is aggressively moving into the quick service restaurant sector, enabling clients such as Arby's and T.J. Cinnamons to accept credit cards and provide additional payment options to consumers,'' said Diane Vogt, chief executive officer of 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.