US Bank 2006 Annual Report Download - page 13

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U.S. BANCORP 11
October 2006
NOVA and Discover Financial Services
sign merchant processing agreement.
December 2006
U.S.Bancorp establishes bank, Elavon
Financial Services, in Dublin, Ireland, to
support credit card merchant acquiring
and processing in Europe.
November 2006
U.S. Bank launches contactless
credit card pilot in Denver.
October 2006
U.S. Bank Canada acquires CIBC’s Visa®
purchasing and corporate credit
card portfolio.
PAYMENT SERVICES DRIVES
SUCCESS AND REVENUE
U.S. Bank is now the world’s leading
provider of freight audit and payments
through PowerTrack,
®our patented, electronic
business-to-business payment network.
PowerTrack processes more than 25 million
electronic documents annually with more
than 25,000 registered users worldwide. In
2006, the acquisition of Schneider Payment
Services added approximately $7 billion in
freight payments to the portfolio. In 2006,
PowerTrack was named among the top 100
innovators by Supply & Demand Chain
Executive magazine.
U.S. Bank’s Voyager Fleet Card program is a
universal fuel and maintenance card accepted
at more than 200,000 locations throughout
the U.S. The program provides a single
source for all card issuance, billing, payment
and customer service, and it services more
than 1.6 million vehicles nationwide.
In June, NOVA Information Systems’ European
affiliate, euroConex, was awarded the title of
“Merchant Acquirer of the Year” at the Cards
International Global Awards. Judges cited the
company’s international expansion and high
cross-border competence. There are currently
more than 200,000 merchants in the euroConex
portfolio. Combined, NOVA and its affiliates
First Horizon Merchant Services,euroConex
and Elan provide global merchant processing
services to financial institutions and clients in
the United States, Canada and Europe, serving
approximately 850,000 merchants worldwide.
June 2006
NOVA’s European affiliate, euroConex,
named merchant acquirer of the year at
Cards International global award event.
June 2006
U.S.Bank joins MoneyPass ATM network,
gives customers surcharge-free access
to more than 12,000 ATMs.
July 2006
U.S.Bank issues 10 millionth gift card
and remains the largest Visa gift card
issuer in the United States.
January 2006
NOVA buys First Horizon Merchant Services
business; adds 53,000 merchants and
expands hospitality portfolio.
January 2006
U.S. Bank Voyager acquires
Advent Business Systems, Inc.