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U.S. Bank and Elavon Bring More Mobile Payment Choices to Customers with Samsung Pay

MINNEAPOLIS--(BUSINESS WIRE)--Sep. 28, 2015-- U.S. Bank and Elavon, the global acquiring subsidiary of U.S. Bancorp (NYSE: USB), today announced the availability of Samsung Pay to offer more payment choices and convenience to their customers.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20150928005272/en/

Consumers and small businesses with U.S. Bank Visa® credit and debit cards may now load their cards  ...

Consumers and small businesses with U.S. Bank Visa® credit and debit cards may now load their cards onto eligible Samsung mobile devices and pay using Samsung Pay. (Photo: Business Wire)

Consumers and small businesses with U.S. Bank Visa® credit and debit cards may now load their cards onto eligible Samsung mobile devices and pay using Samsung Pay. U.S. Bank’s co-brand and affinity partners may do the same. Point of sale devices provided to U.S. Bank and Elavon merchant customers are also enabled to accept participating credit and debit card Samsung Pay payments.

“Being one of the first to offer our cardmembers and merchant customers Samsung Pay is a great example of our focus on our customers,” said Dominic Venturo, chief innovation officer at U.S. Bank. “This is an important step in the continuing evolution of payments and consistent with providing our customers the convenience of doing business with us how, when and where they want."

“U.S. Bank is a valued partner to help Samsung bring mobile payment from every-once-in-a-while to almost anywhere,” said Injong Rhee, EVP of Samsung Electronics, Global Head of Samsung Pay. “With Samsung Pay, customers can shop like it’s yesterday and pay like it’s tomorrow. They can use the only mobile payment option that works almost anywhere you can swipe or tap your card today.”

Samsung Pay delivers secure mobile payments worldwide and uses both Near Field Communication (NFC) and proprietary technology called Magnetic Secure Transmission (MST). MST promotes broad merchant acceptance by converting traditional magnetic-stripe information into a wireless signal that has the potential of being accepted at about 30 million merchant locations worldwide – almost anywhere your customers can swipe a card themselves.

For more information about Samsung Pay and U.S. Bank cards, please visit usbankgomobile.com/wallet/#/samsungpay. Merchant customers should speak with a banker or visit www.elavon.com to learn about accepting Samsung Pay at the point of sale.

About U.S. Bank

Minneapolis-based U.S. Bancorp (NYSE: USB), with $419 billion in assets as of June 30, 2015, is the parent company of U.S. Bank National Association, the fifth largest commercial bank in the United States. The Company operates 3,164 banking offices in 25 states and 5,020 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.

About Elavon (www.elavon.com) Twitter: @elavon

Elavon is wholly owned by U.S. Bancorp (NYSE: USB) and provides end-to-end payment processing solutions and services to more than 1.3 million customers in the United States, Europe, Canada, Mexico, Brazil and Puerto Rico. As the #1 provider for airlines and a top five provider for hospitality, healthcare, retail, and public sector/education, Elavon’s innovative payment solutions are designed to solve pain points for businesses from small to enterprise-sized.

About Samsung Pay

Samsung Pay is a simple, safe and available almost anywhere you can swipe or tap your card mobile payment service from Samsung Electronics. Combining NFC with Samsung’s proprietary MST technologies, Samsung Pay provides consumers a way to pay nearly anywhere you can swipe or tap a card at millions of merchant locations worldwide. Samsung continues to strategically expand its partnership ecosystem for Samsung Pay to provide greater flexibility, access, and choice for customers while enabling an easy and safe payment experience. Visit www.samsung.com/pay to learn more.

*Some card reader terminals may require software updates to be compatible with Samsung Pay.

About Samsung Electronics America, Inc.

Headquartered in Ridgefield Park, NJ, Samsung Electronics America, Inc. (SEA), is a recognized innovation leader in consumer electronics design and technology. A wholly owned subsidiary of Samsung Electronics Co., Ltd., SEA delivers a broad range of digital consumer electronics, IT and home appliance products. Samsung is the market leader for HDTVs in the U.S and America’s fastest growing home appliance brands. To discover more of the award-winning products you love with Samsung, please visit www.samsung.com.

Source: U.S. Bancorp

U.S. Bank Contact:
U.S. Bank Corporate Communications
Holly Maddox, 404-632-6088
Samsung Pay Contact:
Shruti Sehgal, 646-452-5637

"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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