U.S. Bancorp reported that its fourth quarter merchant acquiring volume grew more than 28% over 4Q/05 to $56 billion, produced from 841,587 merchants. Credit and debit card revenue and corporate payment products revenue were both higher in the fourth quarter than 4Q/05 by $13 million and $15 million, or 6.6% and 11.9%, respectively. The strong growth in credit and debit card revenue was primarily driven by higher customer transaction volumes. Retail Payment Solutions volume for the quarter was $9.9 billion, up 7.6% over 4Q/05. Corporate Payment Services volume was $9.5 billion, compared to $7.1 billion for the year-ago quarter. For the quarter, U.S. Bancorp’s Payment Services net income was up 39% to $237 million, but, down from $252 million in the prior quarter. For complete details on U.S. Bancorp’s 4Q/06 performance, visit CardData ([www.carddata.com]).
MERCHANT ACQUIRING VOLUME HISTORICAL
Source: CardData (www.carddata.com)