US Bank 2003 Annual Report Download - page 16

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THE REACH OF OUR FRANCHISE EXTENDS
FAR BEYOND OUR 24-STATE
BRANCH BANKING AND PRIMARY FOOTPRINT
Payment Services is a high-value, growth business without
boundaries. U.S. Bank has developed innovative payment services to meet the
rapidly expanding needs of consumers, businesses, financial institutions, government
entities and millions of merchants throughout the world. This line of business has
unlimited potential, and we utilize our expertise, technology and reputation for service
to seize a growing share of business within this burgeoning arena.
We are the Number 3 merchant processor (NOVA), the Number 1 Visa commercial card
issuer, the Number 2 small business card issuer, the Number 7 Visa and MasterCard®
consumer card issuer, the Number 2 bank-owned ATM network, the Number 2 universal
fleet card (Voyager) and the Number 2 freight payment provider (PowerTrack®).
Through NOVA Information Systems, recognized for superlative customer service and
technical proficiency, our Merchant Processing business ranks third in the nation
and serves more than 600,000 merchant locations in the United States and in Europe.
We continue to expand this business through penetration of the U.S. Bank customer
base of merchants and through ongoing activities, backed by the full resources of
U.S. Bancorp, to gain additional merchant customers.
With top-ranked payment services, expertise
in highly specialized businesses, advanced
technological capabilities and financial products
and services not limited by location, U.S.Bancorp
has built a national standing in a number of
high-growth businesses.
high-value national
businesses
customized
Connie Mearkle (left), Assistant Treasurer,
and Molly Chung (right), Director,
Global Treasury Operations
Lockheed Martin Corporation
Bethesda, MD
strategic
Lockheed Martin Corporation, providing
technology solutions.
Corporate Payment Systems
U.S.Bank
is a resource for
Lockheed Martin Corporation, the
world’spremier advanced technology
systems integrator, haspartnered with
U.S. Bank Corporate Payment Systems
for ten years, adoptingafull range of
Corporate Payment Systems services,
includingcorporate travelcard and
purchasingcard programs.Asa result
ofU.S. Bank Corporate Payment
Systems’flexibilityand client-focus,
Lockheed Martin recentlyextended
itspurchasingcard commitment with
a newfive-year contract.