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U.S. Bank Provides Customers an Easy Way to Pay with Apple Pay

MINNEAPOLIS--(BUSINESS WIRE)--Sep. 9, 2014-- U.S. Bank today announces its integration with Apple Pay, providing customers an easy, secure and private way to pay using their U.S. Bank consumer credit and debit cards right from iPhone 6, iPhone 6 Plus and Apple Watch. By integrating Apple designed hardware, software and services, Apple Pay creates a unique and incredibly intuitive experience that will be available to U.S. Bank customers later this fall.

“We are thrilled to be part of this historic moment with Apple,” said Richard Davis, chairman, president and chief executive officer of U.S. Bancorp. “As we focus on U.S. Bank’s future, we will continue to grow our mobile technology in order to keep pace with the current and next generation of banking customers, and anticipate how to make our products and services more convenient. Working closely with Apple to bring Apple Pay to U.S. Bank customers across the country aligns with our legacy of simplifying customers’ lives, developing exceptional banking products and services, and our ability to make cultural connections with current and future customers through the utilization of technology in innovative and practical ways.”

“Having been a part of a group of industry leaders paving the way to more convenient and secure mobile and online payments, it’s clear that Apple Pay is a tremendous step forward,” said Pamela Joseph, vice chair and head of the payments division at U.S. Bank. “Consumers are never far from their mobile devices, so making it safer and easier to pay with those devices is great news for our customers and for the industry. Combining Apple’s history of innovation with the scale and loyalty of U.S. Bank, Apple Pay has the ability to impact and drastically accelerate the adoption of mobile payments."

Approximately 29 percent of all online retail sales in the United States will be transacted on smartphones and tablets by the end of 2014, according to a Forrester Research, Inc., report, “US Mobile Phone And Tablet Commerce Forecast, 2013 To 2018,” May 2014. Forrester also expects U.S. mobile payments to reach $90 billion in 2017 (US Mobile Payments Forecast, 2013 To 2017; January 2013).

About U.S. Bank
U.S. Bancorp (NYSE: USB), with $389 billion in assets as of June 30, 2014, is the parent company of U.S. Bank National Association, the 5th largest commercial bank in the United States. The Company operates 3,174 banking offices in 25 states and 5,005 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.

Source: U.S. Bank

U.S. Bank Public Relations
Teri Charest, 612-303-0732
teri.charest@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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