US Bancorp reported this morning that its credit and debit card revenue and corporate payment products revenue were higher in the third quarter by 6%. However, the issuer noted that the growth was somewhat muted due to the impact of the settlement of the Wal-Mart antitrust litigation, which lowered the interchange rate on signature debit transactions as of August 1st. US Bancorp says the year-over-year impact of the VISA settlement on credit and debit card revenue was approximately $5.7 million. But, the bank said the change in the interchange rate, in addition to higher customer loyalty rewards expenses, were more than offset by increases in transaction volumes and other rate adjustments. ATM processing services and merchant processing services revenue were both slightly lower in the third quarter than one-year ago, by $1.6 million and $1.0 million, respectively. The unfavorable variance in ATM processing services revenue was primarily due to lower transaction volumes, while merchant processing services revenue was lower year-over-year due to lower processing spreads resulting from changes in the mix of merchants. For complete details on US Bancorp’s 3Q/03 performance visit CardData ([www.carddata.com]).