Payment Services

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 significant scale and focuses on growth through innovations that boost convenience for our customers and partners.


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 five 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 first-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 enterprise customers. We also piloted both geolocation and Visa® TravelTag™ last year to help travelers use their cards with fewer issues related to fraud management, and we launched RealTime Rewards for our FlexPerks Rewards Cards members to instantly redeem earned rewards for purchases. And more is on the horizon for 2016.

2015 was busy for merchant services too, as the industry worked to enable chip card acceptance across the United States. In 2015, Elavon launched an ambitious effort to enable EMV payments for their customers, prompting MasterCard® to recognize them as the top processor for EMV payments in the United States.

Making Convenience Happen

The payments industry moves fast. That's why we invest in innovation and form partnerships to capture emerging trends, solve problems and stay ahead of the competition, allowing us to provide customers with more convenience and help drive their financial success as they work toward their possible.

1. Nilson Report, June 2015 issue #1066

2. Nilson Report, April 2015 issue #1062

3. Nilson Report, June 2015 issue #1066 (V/MA issuers, excludes AXP)

4. Nilson Report, July 2015 issue #1067 and Nilson Report, February 2015 issue #1058

5. Nilson Report, June 2015 issue #1065

6. Nilson Report, March 2015 issue #1059

Learn more about our other core businesses:

Arguably the most forward-thinking major financial institution in the United States.”

Bank Innovation