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U.S. Bank and Monitise Americas Introduce Free Mobile Banking Service for Prepaid Cardholders

MINNEAPOLIS, Oct 05, 2010 (BUSINESS WIRE) --

U.S. Bank and Monitise Americas have launched AccelaPay mobile banking, giving U.S. Bank AccelaPay(R) Visa cardholders convenient, free access to their accounts anywhere and anytime using their mobile phone. Plans are underway to introduce the mobile banking service to U.S. Bank ReliaCard(R) Visa state programs this month, and to expand the offering to other prepaid card products in the coming months.

AccelaPay cardholders can check their balance, pay bills, receive account alerts and view mini-statements on-the-go with AccelaPay mobile banking. BlackBerry and iPhone users can download the free AccelaPay application at accelapay.com, and all other mobile web users can access the AccelaPay mobile website at m.accelapay.com.

"We're excited to introduce the mobile banking channel to our prepaid customers with AccelaPay mobile banking, the first full-suite mobile banking solution with bill pay capabilities in the prepaid marketplace," said Dominic Venturo, chief innovation officer for Retail Payment Solutions. "As an early adopter of mobile banking in the payments space, U.S. Bank is committed to investing in new technologies to better serve our customers."

U.S. Bank is working in partnership with Monitise Americas, a leading global mobile banking provider for financial institutions, to use the most advanced financial management technology available to provide this service.

"With the launch of U.S. Bank's app, prepaid cardholders can access real-time financial information quickly, securely and in the palm of their hand, enabling round-the-clock access, speed and added convenience," said Soren Bested, Managing Director, Monitise Americas. "With U.S. Bank leading the way, it is expected that this method of accessing financial information will quickly establish itself as the number one way that prepaid cardholders manage their money."

The U.S. Bank AccelaPay Visa is a prepaid, reloadable card designed to replace costly paper checks for businesses with recurring cash disbursement activities, such as payroll, commissions, travel advances and insurance claim distributions. Cardholders can use the AccelaPay Visa card everywhere Visa Debit cards are accepted worldwide. Visit usbank.com/accelapayvisa for details.

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 Monitise Americas

Monitise Americas is a joint venture between FIS, one of the world's largest providers of banking and payments technology to financial institutions and businesses worldwide, and Monitise plc (LSE: MONI.L) a global leader in Mobile Money solutions. Monitise Americas provides mobile banking and payment services to North American financial institutions predicated on an "ecosystem" principle, which allows multiple mobile carriers and financial institutions to deliver services over a single platform. Current partners of Monitise Americas include FIS, NYCE, Everlink, Corporate Network eCom, and eCommLink. For more information on Monitise Americas and details of how to benefit from participating in its cross-America ecosystem, please visit www.monitiseamericas.com.

About U.S. Bancorp

U.S. Bancorp (NYSE: USB), with $283 billion in assets as of June 30, 2010, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,002 banking offices in 24 states and 5,309 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.

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6454358&lang=en

SOURCE: U.S. Bank

U.S. Bank
Teri Charest, Media Relations, 612-303-0732
teri.charest@usbank.com
or
Monitise Americas
Rebecca Warzycha, 401-305-5211
Rebecca.warzycha@monitiseamericas.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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