Latest innovation giving retailers convenient way to offer instant
credit to shoppers
MINNEAPOLIS, Mar 06, 2012 (BUSINESS WIRE) --U.S. Bank has launched a new Instant Line Access App for the iPad(R) that
makes applying for a U.S. Bank credit card easier, safer and more
convenient for customers.
The app is being piloted with Sport Chalet, a leading full-service
specialty sporting goods retailer that partners with U.S. Bank to offer
the Sport Chalet Visa(R) Credit Card. U.S. Bank provides the
iPad and the application, which is not available for download directly.
Sport Chalet customers can apply for and, if approved, receive
on-the-spot credit to begin making purchases and earning rewards.
U.S. Bank, a leader in payments technology, also launched an instant
application program for iPhone last year. U.S. Bank plans to launch both
the iPhone and iPad programs with other co-branded partners, as well as
a U.S. Bank branded version of the iPad credit application program in
select U.S. Bank branches during the second quarter of 2012.
"This new approach to in-store credit applications leverages the latest
in mobile technology and security to provide for an improved customer
experience allowing partners, such as Sport Chalet, to connect more
directly with their customers," said Dominic Venturo, chief innovation
officer for U.S. Bank Payment Services. "In addition to eliminating
paper applications, giving them a way to offer their customers an
instant line of credit while they are shopping are examples of how U.S.
Bank is working to bring the best possible banking experience to its
partners and customers."
Upon visiting the store, customers can work directly with a Sport Chalet
store expert to apply for a Sport Chalet Visa Credit Card. The expert
accesses the app via the iPad, which connects with U.S. Bank's privately
hosted server. The expert hands the iPad to the customer to privately
complete and submit the application. If a customer is instantly approved
and accepts the offer, the new cardholder receives a temporary shopping
pass for immediate use in the store. Customers can use the temporary
shopping pass until the permanent, personalized credit card arrives in
"Sport Chalet is dedicated to enhancing our customers' shopping
experience," states Howard Kaminsky, chief financial officer for Sport
Chalet. "The opportunity to offer instant credit with the in-store iPad
technology, developed by our partner U.S. Bank, supports our core values
of providing our customers with an easy and better shopping experience."
U.S. Bank is a leader in payment and mobile innovation. In addition to
being among the first to offer instant credit card applications on
mobile devices, U.S. Bank issued the first payment solution that
combines EMV chip, Visa payWave and magnetic stripe technologies to
enhance acceptance and compatibility with credit cards systems
worldwide. The company is also leading exploration of how the camera on
mobile devices can be used to make banking simpler, such as for
depositing checks remotely. U.S. Bank was also a bank leader in the area
of contactless payment with a card or mobile device.
The iPhone and iPad are trademarks of Apple Inc., registered in
the United States and other countries.
About Sport Chalet
Sport Chalet is a leading full-service
and specialty sporting goods retailer with 54 stores in California,
Nevada, Arizona and Utah; Sport Chalet online at sportchalet.com; and a
Team Sales division. The Company offers over 50 specialty services for
the sports enthusiast, including snowboard and ski rental and repair,
Scuba training and certification, Scuba boat charters, car rack
installation, custom golf club fitting, racquet stringing, and bicycle
tune-up and repair at its store locations.
About U.S. Bank
U.S. Bancorp (NYSE: USB), with $340 billion
in assets as of Dec. 31, 2011, is the parent company of U.S. Bank, the
fifth-largest commercial bank in the United States. The company operates
3,085 banking offices in 25 states and 5,053 ATMs, and provides a
comprehensive line of banking, brokerage, insurance, investment,
mortgage, trust and payment services products to consumers, businesses
and institutions. U.S. Bancorp and its employees are dedicated to
improving the communities they serve, for which the company earned the
2011 Spirit of America Award, the highest honor bestowed on a company by
United Way. Visit U.S. Bancorp on the web at www.usbank.com.
SOURCE: U.S. Bank
Teri Charest, 612-303-0732
U.S. Bank Media Relations
Howard Kaminsky, 818-949-5300, Ext.5728
Chief Financial Officer