The award program is in its 16th year and awards are given based on transactions issued and acquired within the United States.
"Issuers, acquirers and processors have found that, given the current economic and competitive challenges within the payments industry, service quality is more important than ever to set an organization apart from its peers," said Una Somerville, global head of client support services, Visa Inc. "The 16th
annual Visa Service Quality Performance Awards give us an opportunity to recognize the achievements of organizations that have delivered superior operational performance and service quality, which ultimately benefits all participants in the payments processing chain including merchants and cardholders."
Issuers, acquirers and processors are placed into peer categories based on annual Visa sales volume rankings.
The winners were: America First Federal Credit Union; Applied Bank; Arvest Bank; Bank Of America; BB&T Corp.; Boeing Employees' Credit Union; BOK Financial Corp.; J.P. Morgan Chase & Co.; Chevy Chase Bank; Federal Savings Bank; Citibank (South Dakota) N.A.; Comerica Inc.; Commerce Bancshare, Inc.; Compass Bank; Credit One Bank N.A.; Electronic Data Systems Corp.; Fifth Third Bank; First Citizens BancShares Inc.; First Data Resources Inc.; First Hawaiian Bank; FirstBank Holding Co. of Colorado; FirstMerit Bank N.A.; First National Bank of Omaha; Fulton Financial Corp.; GE Capital Financial Inc.; INTRUST Bank N.A.; J.C. Penney Co.; KeyBank N.A.; Marshall & Ilsley Corp.; M&T Bank Corp.; Merrill Lynch HC; National City Corp.; Nordstrom FSB; Old National Bank; PNC Financial Services Group Inc.; Regions Financial Corp.; State Farm Financial Services FSB; SunTrust Banks Inc.; Synovus Financial Corp.; Target National Bank; TCF Financial Corp.; TIB -- the Independent BankersBank; Total System Services Inc.; UMB Financial Corp.; Union Bank and Trust Co.; U.S. Bancorp; USAA Savings Bank; Wachovia Corp.; Wells Fargo and Co.; Western Corporate Federal Credit Union; Whitney National Bank; and World's Foremost Bank.
The Service Quality Performance Awards program was established in 1992 and is reviewed annually. Award winners must sustain operating excellence over the course of one calendar year in key areas and VisaNet processors must be in compliance with the payment card industry data security standard during the award period to be eligible for the program.