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U.S. Bank and MasterCard® Bring More Mobile Payment Choices to Customers

MINNEAPOLIS--(BUSINESS WIRE)--Jun. 8, 2016-- U.S. Bank today announced that its MasterCard cardmembers can now use Android Pay™ and Samsung Pay®, offering more payment choices and convenience to customers.

U.S. Bank consumer and small business MasterCard cardmembers may now load their cards onto eligible Android and Samsung mobile devices and pay using these two mobile payment services. Android Pay and Samsung Pay also work with MasterCard credit cards that U.S. Bank issues on behalf of its co-brand and affinity partners like REI and Edward Jones.

“Partnering with MasterCard to bring more mobile payment options to our cardmembers helps make it easier for them to try new ways to pay,” said Clifford Cook, senior vice president for U.S. Bank Retail Payment Solutions. “This is an important step in the continuing evolution of payments and consistent with providing our cardmembers the convenience of making mobile payments with whatever mobile device they choose.”

With Android Pay, U.S. Bank customers with eligible MasterCard consumer and small business credit cards can now use their Android mobile phone to make fast, simple and secure payments in over one million locations and in popular Android apps—all without pulling out a wallet. Android Pay comes preloaded on newer Android devices and can also be downloaded to Android devices that support NFC and run KitKat (4.4) OS or higher.

Samsung Pay delivers secure mobile payments using both Near Field Communication (NFC) and proprietary technology called Magnetic Secure Transmission (MST). MST technology allows Samsung Pay to be used with traditional magnetic-stripe card readers, allowing it to work virtually anywhere a cardmember swipes or taps a card.

To keep customers’ card details safe, both mobile payments choices do not send actual credit or debit card numbers to merchants when a payment is made. Instead, through a process called tokenization, a virtual account number replaces card data to represent a customer’s account information. U.S. Bank merchant customers can accept Android Pay at the point of sale using terminals enabled with NFC and in their Android apps while Samsung Pay can be accepted at both point of sale using terminals enabled with NFC or magnetic-stripe readers.

Android Pay
For more information about Android Pay and U.S. Bank cards, please visit usbankgomobile.com/wallet/#/androidpay.

Samsung Pay
For more information about Samsung Pay and U.S. Bank cards, please visit usbankgomobile.com/wallet/#/samsungpay.

About U.S. Bank
Minneapolis-based U.S. Bancorp, with $428 billion in assets as of March 31, 2016, 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. Visit U.S. Bancorp on the web at www.usbank.com.

Source: U.S. Bank

U.S. Bank Public Relations
Maureen Mook, 612-973-0771

"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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