US Bank 2004 Annual Report Download - page 13

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KEY BUSINESS UNITS
• Corporate Payment Systems
• Merchant Payment Services
• NOVA Information Systems, Inc.
• Retail Payment Solutions (card services)
• Transaction Services
PAYMENT
SERVICES
U.S. Bancorp is a recognized leader in
the rapidly growing payments business,
with customers ranging from individual
credit and debit cardholders and ATM
users to local and global merchants, fl eet
enterprises and multinational corporations
with complex payment and payment
processing needs.
We provide innovative card-based programs, internet-based
reporting tools, fully integrated payment solutions and
electronic payments settlement answers across the country
and around the world.
Payment Services is a higher growth, higher return line
of business for U.S. Bancorp. We will continue to invest
in the technology, acquisitions, product development and
sales promotion needed to support its continued growth.
There is strong momentum in merchant processing,
especially related to our new NOVA processing
capabilities in Europe. Both our retail payments and
corporate payments businesses are focusing on the
expansion of existing relationships with current
customers. Additionally, corporate payment products
and merchant processing can provide valuable benefi ts
to middle market and small business companies, and
we are increasing penetration of those customer segments
for payments and processing services.
We are also investing in the hardware and technology
to expand and enhance our network of U.S. Bank ATMs.
Our newest generation of ATMs are among the most
highly functional in the industry, with vivid, striking
graphics and transaction screens and customization
capabilities so that customers’ transactions are faster,
easier and individualized.
U.S. BANCORP 11