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U.S. Bank announced a plan aimed at helping small businesses make smarter decisions about the financial operations of their business with an online reporting tool called ScoreBoard. The tool provides trending and reporting data that allows customers to monitor their own credit card spending and also compare their card sales data to industry trends. The application is available to U.S. Bank’s small business credit cardholders and merchant customers who process credit, debit and electronic check transactions through U.S. Bank Merchant Services.
Available through the customer’s existing online account access tools, ScoreBoard features user-friendly charts and graphs that provide a monthly snapshot of their credit card purchases and payments. It also gives customers insight into their merchant accounts, tracking sales transactions when customers use a card for payment of goods and services. In addition, U.S. Bank business cardholders can use ScoreBoard to download customizable reports for their specific business needs.
“ScoreBoard is unique because it gives our small business customers the ability to monitor their own spending and insight into how their sales trends compare to similar merchants in their business category,” said Pam Joseph, U.S. Bancorp payment services vice chair. “For our customers who have a U.S. Bank credit card and merchant account, the tool provides a comprehensive view of their business trends.”
Business owners who have a U.S. Bank-issued small business credit card can access ScoreBoard through their existing Internet Banking platform. They can use the application to monitor card spending by an individual employee cardholder or for their entire business, review transactions over various time periods and categories, such as travel, office supplies, home improvement and gas purchases and examine their purchase activity by volume, average ticket price or merchant name.
Merchants who process their payments through U.S. Bank Merchant Services can use ScoreBoard to review sales by volume, average ticket price, or payment type over various time periods determine their growth rate for card sales over a selected period of time and benchmark their card sales performance against other small businesses in their industry or geographic area by looking at ScoreBoard’s overview of consumer spending trends.