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NOVA Enhances Electronic Check Service to Benefit Multi-Lane Retailers

ECS Cash Office Imaging Service Offers Real-Time Processing and

Risk Mitigation Without Significant POS Investment

ATLANTA--(BUSINESS WIRE)--Nov. 28, 2006--NOVA Information Systems (NOVA), a wholly owned subsidiary of U.S. Bancorp (NYSE:USB), today announced that it has enhanced its Electronic Check Service (ECS) product to meet the needs of multi-lane retailers by eliminating the investment in check imaging technology at the point of sale (POS). ECS now combines the benefits of real-time check authorization and risk mitigation services with back-office image uploads, resulting in improved cash flow and reduced risk.

NOVA is the only provider of electronic check acceptance solutions to automatically and systemically leverage three hosted processing methods: direct DDA access, ACH processing, and the banking network adhering to Check 21 regulations. Retailers can choose from flexible guarantee and verification service levels, perform real-time authorization utilizing existing MICR technology at their point of sale, and eliminate the hassles of paper deposit preparation by simply uploading check images at the end of the day via a high-speed check imaging device located in their backroom cash office. NOVA manages the electronic funding and handles all exception handling on behalf of retailers, and prices the service inclusively with no hidden fees or charges. Further, most retailers will experience same-day settlement, and funds will be deposited within 24-48 hours.

"NOVA has hit a home run in the area of electronic check processing by responding directly to the needs of multi-lane retailers," said Stuart C. Harvey, Jr., president, NOVA. "Though check usage is declining, both check fraud and the costs associated with check acceptance are increasing. NOVA's ability to provide a complete integrated solution that encompasses implementation services, real-time check processing backed by risk services, and automated returns management closes a gap that has existed in the industry."

"We are excited that NACHA's new rules change supporting ACH Back Office Conversion (BOC) is fueling the development of innovative solutions," said Elliott McEntee, president, NACHA. "The previous point-of-purchase regulations resulted in cost and operational hurdles for multi-lane retailers that have now been cleared, opening up new market opportunities."

NOVA's ECS solution is available in a choice of service levels, including guarantee, verification, verification with collections, and conversion only. It automatically determines the appropriate processing method without clerk manipulation at the point of sale. Direct DDA access to more than 30% of the nation's checking accounts through an on-line debit gateway greatly reduces the risk of check acceptance by providing real-time access to checking accounts drawn on participating bank partners; checks drawn on non-participating banks are routed through the ACH or utilize the Check 21 processing network. NOVA's solution employs cash office imaging (COI) technology designed to efficiently manage the high speed delivery of check images without the need for monetary back office reconciliation to point-of-sale activity. Retailers use existing in-lane MICR technology to perform real-time financial authorizations, mitigating check acceptance risk and improving cash flow; a high-speed imaging device uploads batches of checks at the end of the day, joining the check image with the original transaction detail. Retailers that use the NOVA Network for credit and debit card processing can quickly realize the benefits of migrating from paper check services to electronic deposits by having one point of contact for all their payment processing needs.

About NOVA

NOVA Information Systems, a leader in the payment processing industry is a wholly owned subsidiary of U.S. Bancorp (NYSE:USB). Combined, NOVA and its affiliates First Horizon Merchant Services, euroConex and Elan provide global merchant processing services to financial institutions and clients in the United States, Canada, and Europe. NOVA offers integrated payment processing services to more than 1,000,000 merchants worldwide. For more information, visit www.novainfo.com.

    CONTACT: NOVA Information Systems
             Media Relations
             Michelle Graff, 678-731-5064

    SOURCE: NOVA Information Systems
"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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