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U.S. Bank Gives Twins Fans Access to New Payment Technology at Target Field

MINNEAPOLIS, May 20, 2010 (BUSINESS WIRE) --Starting on May 21, ten lucky Minnesota Twins fans seated in the U.S. Bank Home Run Porch at each home game will be among the first to use new contactless payment technology available at Target Field. The winners will each receive a U.S. Bank MasterCard(R) PayPass(TM) fob, preloaded with $10 that can be used at any concession stand within the U.S. Bank Home Run Porch.

Patrons simply need to tap the fob on a reader located at the check-out at any U.S. Bank Home Run Porch concession stand to pay for their food and beverage purchases. They will hear a beep and see a green light on the reader that signals that the purchase is complete.

Contactless payments technology eliminates the need for baseball fans and cashiers to fumble with cash and coins, and transactions can be processed much faster than the time it takes to swipe a card through a traditional credit card reader.

"Contactless payment technology can really speed up the wait at concession areas, and these fans who will be among the first to experience it can get back to their seats faster so they won't have to miss any of the action on the field when they want to grab a snack or refreshment," said Beth Blaisdell, senior vice president of payment services at U.S. Bank. "We're thrilled to partner with the Twins to bring this innovative technology to Target Field, and as the hometown bank here in Minnesota, we see this as a unique extension of our overall relationship with the Twins."

The fobs, which were manufactured in the United States by Oberthur Technologies, are an example of U.S. Bank's commitment to bringing convenient and innovative new technology options to customers.

"As a leading provider of contactless payments in the U.S., we know that the users truly benefit from this technology because it decreases transaction time at the point-of-sale and increases convenience versus standard payment methods," said Martin Ferenczi, managing director of the Americas Region for Oberthur Technologies' Card System Division. "The strong benefits of contactless payments lead to the potential for greater use by the consumer - which is appealing to issuers and merchants. It is a big win for all involved."

U.S. Bank is a founding partner of Target Field. Key elements of the partnership include naming rights to the U.S. Bank Home Run Porch, a family-friendly seating deck located in left field, along with prominent ballpark marketing and enhanced community involvement with the Twins Community Fund. U.S. Bank is also the issuer of the Minnesota Twins Rewards MasterCard, the official card of the Minnesota Twins. In addition, Sunday, May 30 is U.S. Bank Day at Target Field when the Twins take on the Rangers. On that day, the first 5,000 kids under 14 will receive a Denard Span jersey, and U.S. Bank will be hosting various promotional activities throughout the U.S. Bank Home Run Porch.

About U.S. Bank

U.S. Bancorp (NYSE: USB), with $282 billion in assets as of March 31, 2010, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,025 banking offices in 24 states and 5,312 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.

About MasterCard PayPass

MasterCard PayPass is ideal for traditional cash-heavy environments where speed is essential, and has led the way in bringing contactless technology to consumer categories such as quick serve restaurants, drug stores, gas stations, vending machines, convenience stores, sports arenas, movie theaters, transit systems, taxis, parking garages and more. As of Q1 2010, there are nearly 75 million MasterCard PayPass cards and devices that have been issued for use at approximately 230,000 merchant locations worldwide, including new acceptance environments such as vending, taxis, tollbooths and transit. PayPass also is accepted at numerous professional football and baseball stadiums. For more information about MasterCard PayPass and a full list of participating merchants, visit www.mastercard.com/paypass.

SOURCE: U.S. Bank

U.S. Bank Media Relations
Jennifer Wendt, 612-303-0731
jennifer.wendt@usbank.com
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.



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