US Bank 2005 Annual Report Download - page 11
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U.S. BANCORP 9
Recent acquisitions have expanded our
merchant processing globally. At year-end
2005, euroConex acquired Citibank Card
Acceptance, a part of Citigroup, Inc., and
added 100,000 new merchant locations in
more than 30 countries, including Ireland,
the U.K., Spain, France, Belgium, Italy,
Germany, Poland, Austria, the Netherlands,
Norway and Sweden, raising the company’s
total pan-European portfolio to more than
200,000 merchant locations.
Left: U.S. Bancorp is providing bank
partners and merchants across Europe
with a greater array of payment processing
services, including cross-border acquiring,
multi-currency processing and dynamic
currency conversion solutions.
Below: The transaction doubled our merchant
count in Europe and is an investment in a
business with great growth potential.