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U.S. Bank to Offer V.me by Visa Making It Easier for Customers to Pay for Online Purchases With Their Visa Debit or Credit Cards

MINNEAPOLIS & FOSTER CITY, Calif.--(BUSINESS WIRE)--Oct. 23, 2012-- U.S. Bank is giving its customers access to Visa’s new digital wallet service, V.me by Visa, making online purchases simple and secure because customers do not need to repeatedly enter account number, bill-to and ship-to information.

U.S. Bank customers will be able to enroll their existing Visa and other payment card accounts, allowing them to pay online by simply entering a user name and password at checkout, whether transacting on a PC or mobile device. As V.me acceptance continues to gain momentum at a growing number of eCommerce merchants, Visa will work closely with U.S. Bank to broadly deliver the service to its customers.

“V.me presents a new service for our customers that addresses the growing consumer desire to shop online from any device with ease and simplicity,” said Clifford Cook, chief marketing officer for U.S. Bank Retail Payment Solutions.

V.me presents an opportunity for issuing banks to strengthen account holder relationships by offering them a new service that allows consumers to shop online – from any web-enabled device simply and securely. Through U.S. Bank branding and backed by Visa, account holders can shop with comfort knowing they are protected by layers of security within Visa’s industry-leading network.

“Visa is committed to delivering a new dimension of convenience and security, one where consumers are no longer required to share personal account and billing and shipping information at checkout,” said Jennifer Schulz (@Jen_Schulz), global head of eCommerce, Visa Inc. “Visa and U.S. Bank have a close relationship dating back many years, making U.S. Bank a critical part of our go-to-market strategy for V.me, and giving their customers a distinct eCommerce advantage this holiday season.”

About Visa Inc.

Visa is a global payments technology company that connects consumers, businesses, financial institutions, and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is one of the world’s most advanced processing networks — VisaNet — that is capable of handling more than 20,000 transaction messages a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.

About U.S. Bank

U.S. Bancorp (NYSE: USB), with $352 billion in assets as of Sept. 30, 2012, is the parent company of U.S. Bank, the 5th largest commercial bank in the United States. The company operates 3,086 banking offices in 25 states and 5,080 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 usbank.com.

Source: U.S. Bank

U.S. Bank Public Relations
Teri Charestm, 612-303-0732
teri.charest@usbank.com
or
Visa Inc.
Lee Mokri, 415-932-2564
globalmedia@visa.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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