MINNEAPOLIS--(BUSINESS WIRE)--Oct. 25, 2007--U.S. Bank issued its
20 millionth gift card this week, solidifying its place as the top
Visa gift card issuer and a leader in prepaid cards across the United
States. U.S. Bank reached the 10 millionth gift card milestone in July
2006, doubling its program in just over a year.
"Gift cards have very quickly worked their way into the minds of
all consumers as we become more and more accustomed to the
convenience, safety and acceptance of prepaid cards in lieu of checks
or cash," said Ralph Bianco, senior vice president and head of U.S.
Bank's prepaid cards program.
U.S. Bank gift cards are available throughout the United States
where consumers shop such as at many of the nation's leading malls and
at all 2,512 U.S. Bank branches or online at www.usbank.com.
U.S. Bank has made several enhancements to the U.S. Bank Visa Gift
Card in the last year. Customers who purchase the cards online now
have a choice of five gift card designs. The gift cards are also
displayed and available for purchase in the branch, perfect for those
who are running out of ideas or time to purchase that perfect gift.
There are three major spikes in gift card sales that tend to come
in the spring and summer around graduation and Father's Day ("dads and
grads"), in the fall when kids head back to school and around the
December holiday season.
Prepaid cards are an important area of business for U.S. Bank. In
addition to gift cards, U.S. Bank issues prepaid cards for payroll,
general purpose spending and rebates. U.S. Bank is the leader in the
use prepaid cards for state-sponsored disbursements, such as for
unemployment insurance, child support, child care and temporary
assistance for needy families. It was one of the first to partner with
states for these types of payments, and continues to be a leader in
the industry in the use of prepaid cards as an alternative to cash and
checks.
U.S. Bancorp (NYSE:USB), with $228 billion in assets, is the
parent company of U.S. Bank, the 6th largest commercial bank in the
United States. The company operates 2,512 banking offices and 4,870
ATMs, and provides a comprehensive line of banking, brokerage,
insurance, investment, mortgage, trust and payment services products
to consumers, businesses and institutions. Visit U.S. Bancorp on the
web at www.usbank.com.
CONTACT: U.S. Bank
Teri Charest, Media Relations, 612-303-0732
SOURCE: U.S. Bank
