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U.S. Bank Mobile Payment App for Pilots Wins Monarch Innovation Award

Multi Service Aviation’s MSA Pay app wins Monarch Innovation Award from Barlow Research

MINNEAPOLIS--(BUSINESS WIRE)--Apr. 1, 2016-- MSA Pay, the first mobile payment app in the general aviation space, was named Most Innovative Product in the 2016 Monarch Innovation Awards, announced Friday. The tool from U.S. Bank Multi Service Aviation was honored by Barlow Research for uniqueness, value, “stickiness,” ease of use and “wow” factor, according to the Monarch judges.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20160401005609/en/

Barlow created the Monarch Awards in 2007 to honor innovation in the financial services industry. The awards recognize financial institutions that provide the most innovative products to business customers and risk takers who promote innovation in their organizations.

“The Monarch Awards are highly respected, due to their rigorous judging standards,” said U.S. Bank Chief Innovation Officer Dominic Venturo. “We are honored to receive this recognition for MSA Pay, which is bringing the efficiencies of paperless payment to business aviation pilots and their service providers.”

Electronic invoicing via MSA Pay frees pilots to focus on passengers rather than paper work. Prior to landing, pilots can notify a fixed-base operator (FBO) of their arrival details and desired services, such as fuel, aircraft cleaning and catering. When services are complete and the plane is ready, the FBO notifies the pilot and sends an invoice. Once approved, the app emails a copy of the invoice to the pilot and to the pilot’s back office for final processing.

“MSA Pay’s simple and secure paperless payment process grew directly from pilot feedback about what matters to them,” said U.S. Bank Corporate Payment Systems President Jeff Jones. “We are grateful to Barlow Research and to the Monarch judges for recognizing the creativity and customer insight applied by our team to bring this product to life.”

The app is currently available for iPhone, iPad and iPod touch through the Apple App Store and will be added to Google Play later this year.

The U.S. Bank Multi Service Aviation Card has been a leading card for aviation fuel and related services for more than 30 years. The card runs on the closed-loop Multi Service Aviation merchant acceptance Network that reaches around the world. U.S. Bank Multi Service Aviation helps organizations pay for aviation-related services, leverage discount fuel contracts, manage monthly aviation expenses and pay invoices online from anywhere while providing merchants with flexible and comprehensive processing solutions. Find more information at usbpayment.com/aviation-solutions.

About U.S. Bank (www.usbank.com)
Minneapolis-based U.S. Bancorp (“USB”), with $422 billion in assets as of December 31, 2015, is the parent company of U.S. Bank National Association, the fifth largest commercial bank in the United States. The Company operates 3,133 banking offices in 25 states and 4,936 ATMs and provides a comprehensive line of banking, investment, mortgage, trust and payment services products to consumers, businesses and institutions.

©2016 U.S. Bank National Association. All trademarks are the property of their respective owners.

Source: U.S. Bank

U.S. Bank Corporate Communications
Bill Brady, 612-303-0731
Barlow Research
Emily Kaliska, 763-253-1817

"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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