MINNEAPOLIS--(BUSINESS WIRE)--Sept. 6, 2005--PowerTrack(R), the online payment network from U.S. Bank has just been awarded a patent from the Mexican Patent Office for its unique payment and financial supply chain processes. The patent from Mexico joins the more than 20 issued or pending U.S. and international patents for the PowerTrack Network confirming the unique qualities that PowerTrack brings to the business-to-business (B2B) payment process.

"Our electronic invoice handling, international trade finance, plus corporate and regulatory audit processes deliver exceptional capabilities to companies around the globe," said Kevin Armstrong, senior vice president and general manager for PowerTrack. "Back office efficiency combined with supply chain financing, clearly affords capabilities that are unparalleled in the industry."

PowerTrack processes more than 25 million electronic trade documents annually with more than 25,000 registered users from more than 3,300 locations worldwide. Currently, PowerTrack facilitates electronic B2B payments in more than 35 countries, including Canada, Mexico, France, Germany, Italy, Netherlands, Switzerland, Turkey, United Kingdom, Egypt, Kuwait, Australia, China, Hong Kong, Japan, Korea, and others. In addition to settlement capabilities in local currencies, the opening of a European Service Center helps provide a complete global payment solution for PowerTrack customers.

PowerTrack is a patented, electronic, business-to-business payment network from U.S. Bank Corporate Payment Systems that greatly expands the concept of EIPP and invoice presentment. Some of the country's largest commercial and government organizations use PowerTrack to streamline business-to-business payment processes by enabling robust pre-payment audits, real-time exception identification, collaborative resolution, and integrated accounts payable and accounts receivable processing. PowerTrack pays sellers quickly while maintaining generous payment terms for buyers, reduces collections risk for sellers, and delivers exceptional control for cash managers.

To learn more about PowerTrack or for a demonstration, call (800) 417-1844 or visit PowerTrack on the web at powertrack.com.

U.S. Bancorp (NYSE:USB), with $204 billion in assets, is the 6th largest financial holding company in the United States. The company operates 2,383 banking offices and 4,877 ATMs in 24 states, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is home of the Five Star Service Guarantee in which the company pays customers if certain key banking benefits and services are not met. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at usbank.com.

CONTACT: U.S. Bank
Teri Charest, Media Relations, 612-303-0732
teri.charest@usbank.com
or
Dan Endy, Corporate Payment Systems, 612-973-1512
dan.endy@usbank.com

SOURCE: U.S. Bank