Northrop Grumman Becomes J.P. Morgan's Largest Private Sector
T&E Card Customer
NEW YORK, July 9, 2009 - J. P. Morgan today announced that Northrop Grumman Corporation (NYSE: NOC), a leading global security company, has selected J.P. Morgan as the issuer of its travel and entertainment (T&E) commercial credit card. Northrop Grumman is now J.P. Morgan's largest private sector T&E card customer in terms of number of cardholders and annual volume of spending.
"J.P. Morgan has been a leading provider of corporate card solutions for more than twenty years, offering innovative payment solutions supported by our proprietary technology platform and dedication to outstanding customer experience," said Eduardo Vergara, global commercial card executive, J.P. Morgan. "We are honored that we have been selected to provide such services to one of the world's leading companies."
J.P. Morgan's corporate card programs are supported by PaymentNet, an online tool that provides companies with greater visibility, reporting capabilities, flexibility and program controls. For example, from one online system, card administrators can order new cards, modify spending limits, instantly adjust cardholder profiles and monitor corporate compliance. Users also have access to more than 70 standard reports that provide the transaction detail needed, including vendor analysis, unusual activity analysis, hotel spending, car rental spending, and delinquency reports. In addition, cardholders can view their statements and authorizations in real-time.
For additional information on J.P. Morgan's commercial card solutions, visit www.jpmorgan.com/commercialcard. For a free report on "Controlling and Cutting Travel & Entertainment Costs", visit www.jpmorgan.com/visit/cuttravelcosts.
About J.P. Morgan Treasury Services
The Treasury Services business of J.P. Morgan is a top-ranked, full-service provider of innovative payment, collection, liquidity management, trade finance, commercial card and information solutions to corporations, financial services institutions, middle market companies, small businesses, governments and municipalities worldwide. With more than 50,000 clients and a presence in 39 countries, J.P. Morgan Treasury Services is the world's largest provider of treasury management services and a division of JPMorgan Chase Bank, N.A., member FDIC. More information can be found at www.jpmorgan.com/ts
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about the firm is available at www.jpmorganchase.com.
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