WASHINGTON & MINNEAPOLIS--(BUSINESS WIRE)--May 28, 2008--The U.S.
Postal Service (USPS) has selected U.S. Bank, lead bank of U.S.
Bancorp (NYSE: USB), to provide purchasing cards and Voyager fleet
cards under the new General Services Administration (GSA) SmartPay2
The U.S. Postal Service has been a U.S. Bank client for the past
nine years under the current GSA SmartPay contract. "With this win, we
are extremely pleased to retain this important customer," said Doug
Ichiuji, senior vice president and head of government services for
U.S. Bank Corporate Payment Systems. "As our partnership with the USPS
extends beyond card products as a 'relationship bank' ensuring that we
provide them with best in class banking products and services is at
the core of our commitment to the USPS."
"The Postal Service has one of the largest purchasing card
programs in the federal government and the world's largest fleet card
program. They're a great partner, and this was a very competitive
process, so the win is especially gratifying," said Andrew Gillen,
director of civilian agency programs for U.S. Bank Corporate Payment
Earlier this year, U.S. Bank earned the purchasing card business
for the Department of Transportation, and the United States Air Force
and Defense Agencies. Under the GSA SmartPay 2 contract, each
government agency issues a task order to solicit proposals from the
four card issuers who qualified for a contract under GSA SmartPay2.
Potentially, the estimated charge volume could be approximately $13
billion over the term of the contract, if all options are exercised.
U.S. Bank has served federal agencies since the inception of the
purchase card program in 1986, making it the single most experienced
payment provider to the federal government. It was the sole provider
of purchase cards during the International Merchant Purchase
Authorization Card (I.M.P.A.C.) program from 1988 to 1998, and is one
of several providers participating in the current GSA SmartPay
program, which ends in 2008.
U.S. Bank offers travel, purchasing, fleet, and integrated payment
products, as well as technologies such as the industry leading Access
Online program management tool and PowerTrack, an electronic invoice
payment and presentment tool used by the Department of Defense and
other government agencies.
U.S. Bancorp, with $242 billion in assets, is the parent company
of U.S. Bank, the 6th largest commercial bank in the United States.
The company operates 2,522 banking offices and 4,844 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
CONTACT: U.S. Bank Media Relations
Teri Charest, 612-303-0732
SOURCE: U.S. Bank