MINNEAPOLIS, Jan 26, 2010 (BUSINESS WIRE) -- Paybefore has chosen the U.S. Bank ReliaCard(R) Visa(R) as a Paybefore Awards winner in the Best Government Program category. U.S. Bank's PayID card also received an award in the Most Innovative Program category. U.S. Bank will now vie for best-in-category distinction for both awards, which will be announced during the Paybefore Awards ceremony on Feb. 22 at the Prepaid Expo USA (www.prepaidexpousa.com).
"We are honored to be chosen for these awards," said Ralph Bianco, senior vice president, U.S. Bank Retail Payment Solutions. "As a leading issuer of Visa Prepaid cards, U.S. Bank is proud to be an innovator and leader in the prepaid space."
U.S. Bank was selected by a panel of five industry experts who served as judges for this year's competition. A record number of entries from around the world were received.
"Paybefore applauds the leaders in our industry who are applying the flexibility and appeal of prepaid to innovate on behalf of consumers, governments and businesses," said Marilyn Bochicchio, Paybefore CEO and chair of the judging panel. "U.S. Bank has distinguished itself in a tough field of competition. We are proud to recognize its contributions to advancing the use of prepaid products."
The U.S. Bank ReliaCard Visa is a reloadable card designed to replace costly paper checks for government agencies with recurring cash and check disbursement activities, such as child support or unemployment insurance. Cards are issued through a partnership with state agencies, and cardholders can use the cards everywhere Visa Debit cards are accepted worldwide. Visit http://www.usbank.com/reliacardvisa for details.
Through its PayID program, U.S. Bank is the first card issuer in the United States to pilot an innovative new product that allows cardholders to use a single card for traditional magnetic stripe purchases, Visa payWave(R) transactions and to gain access to secure buildings. U.S. Bank employees participating in the pilot can use a U.S. Bank AccelaPay(R) Visa Card, a prepaid payroll account, to make purchases and enter their secure work location. The cards also contain the MicroPass 4006 platform from INSIDE Contactless, consisting of two applications: the Visa payWave application, which allows for contactless payment at the point of sale, and the HID Global iCLASS(R) application, which allows for contactless access to secure facilities at U.S. Bank. CPI Card Group, a global leader in financial and commercial card production and services, managed the production of the cards for this program.
U.S. Bank Retail Payment Solutions (RPS) is one of the nation's leading providers of payment processing, issuing and advisory services. RPS offers credit, debit, and prepaid payment solutions to consumers and small businesses through U.S. Bank and in partnership with financial institutions, businesses, governments and employers.
About U.S. Bancorp
U.S. Bancorp (NYSE: USB), with $281 billion in assets as of Dec. 31, 2009, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,015 banking offices in 25 states and 5,148 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 usbank.com.
Paybefore is the leading information provider to prepaid and stored value industry professionals, offering the latest news, commentary and analysis. Paybefore's family of industry publications include: Paybefore.com(TM), a searchable online information portal; Paybefore News(TM), daily news briefs delivered electronically; Paybefore News International(TM), a weekly compilation of prepaid news and events from outside the United States; Paybefore Update(TM), a downloadable enewsletter delivered 20 times a year; Paybefore Legal(TM), a downloadable enewsletter covering the legislative, regulatory and judicial developments in prepaid, as well as feature articles by leading attorneys in the field; Paybefore Magazine(TM), a biannual print publication highlighting the best of Paybefore; and Paybefore Buyer's Guide(TM), available online and in print. Visit us at www.paybefore.com.
SOURCE: U.S. Bank
U.S. Bank Media Relations
Teri Charest, 612-303-0732