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U.S. Bank Lets Consumers Track Online Payments

U.S. Bank is broadening a small business offering that will help consumers with their personal finances.

As ScoreBoard debuts, U.S. Bank brings online expense reporting to consumers so that they can track their credit card transactions and compare their own activities to the general population and also over timeframes, such as several years.

As U.S. Bank noted in a Thursday (Nov. 5) press release, ScoreBoard is a free application that is available for cardholders using a variety of financial products, from credit cards to debit cards to credit lines. The application itself can be accessed through U.S. Bank’s Internet banking offering. In terms of graphics, ScoreBoard displays the monthly use of credit card purchases across, say, home improvement or gas expenditures using charts and graphs. There is also tracking of purchases. Reports can be downloaded across a few different formats, such as HTML, PDFs or Excel files.

[bctt tweet="ScoreBoard is a free application that is available for cardholders using a variety of financial products, from credit cards to debit cards to credit lines."]

In a statement that accompanied the release, Cliff Cook, a senior vice president at U.S. Bank’s payment services division, stated that “ScoreBoard is unique because it gives our customers the ability to monitor their own spending and gain insight into how their spending trends compare to previous years. For our customers who have U.S. Bank credit and debit cards, this has the potential to help consumers make the most of their financial decisions and plan for a more secure future.”

One indication that consumers across the United States are becoming more inclined to use mobile banking (through apps, rather than through banking online sites themselves) came this past summer when a Chase-commissioned survey found that 33 percent more consumers use mobile devices to access mobile banking apps compared to a year ago. And online banking itself, said the survey, is up by as much as 35 percent year over year.

To check out what else is HOT in the world of payments, click here.

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NEW PYMNTS STUDY: LEVERAGING THE DIGITAL BANKING SHIFT – SEPTEMBER 2020  

The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

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