US Bank 2015 Annual Report Download - page 22
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U.S.BANCORP 2015 ANNUAL REPORT
— 20 —
PAYMENT SERVICES
In our Retail Payment Solutions and
Corporate Payment Systems groups,
we issue credit cards and provide
convenience-boosting tools for
consumers, small businesses and
corporate customers. We also process
payments and keep commerce alive
through our merchant services division,
Elavon, Inc., a wholly owned subsidiary.
Supporting businesses across the
globe, we are in 14 countries and
operate call centers on three continents.
We compete in all major areas:
– Corporate Payment Services ranked
as the #2 largest bankcard issuer
of corporate travel cards and the
#3 largest issuer of commercial
purchasing cards in the United States1
– Retail Payment Services ranked #5
in the United States for debit card
issuing,2 #5 for Small Business Card3
and #8 for both credit card issuing
and prepaid cards4
– Elavon consistently ranks in the top
ve merchant acquirers in Europe5
and North America by number of
customers6
Investing in Innovation
Innovation keeps us at the forefront
of the industry. In 2015, Bank
Innovation recognized the team of
innovators within Payment Services
with the #3 ranking on its annual list
of “Innovators to Watch.” And, at our
innovation center called “The Grove,”
Elavon focuses on new technology
and product development for mobile
payments. These teams constantly
anticipate what customers will want
next, building the foundation for
how we’ll innovate, grow, service
customers’ needs and plan our go-to-
market strategies.
Our innovation practice also enabled
us to be early adopters and rst-to-
market with mobile payment solutions
that launched in 2015, including
Samsung Pay™ and Android Pay™.
We lead the market with mobile
solutions for account alerts and
fraud management for consumer and
Make Commerce Happen
In today’s world, cards have largely replaced
cash and checkbooks. The payments industry is
evolving as rapidly as our purchasing behaviors,
playing an important role for businesses,
consumers, governments and economies. In this
highly competitive marketplace, our Payment
Services organization has signicant scale and
focuses on growth through innovations that boost
convenience for our customers and partners.
PAYMENT SERVICES