US Bank Grows Merchant Processing Revenues by 20 Percent
US Bank reported second quarter financial results this morning that included growth in revenues from merchant processing of 20 percent for the quarter over the same quarter last year. Merchant processing revenues were $198 million for the quarter vs. $165 million last year.
Merchant processing services revenue was higher in the second quarter of 2005 than the same quarter of 2004 by $33 million (20.0 percent), reflecting an increase in sales volume, new business, higher equipment fees and the expansion of business in Europe.
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