SALT LAKE CITY & DENVER, Aug 03, 2009 (BUSINESS WIRE) -- U.S. Bank is the first card issuer in the United States to add Visa(R)
payWave(R) technology to an unembossed debit card that is
issued instantly to an account holder upon opening an account. The
instant-issue Visa payWave pilot is being tested at select U.S. Bank
branches in Denver and Salt Lake City as part of U.S. Bank's on-going
innovation in payments.
"Exploring smart and convenient ways to streamline payments is one of
our top priorities," said Dominic Venturo, chief innovation officer at
U.S. Bank Retail Payment Solutions. "Our customers have demonstrated
great interest in any development that makes their lives easier, whether
it's by giving them a debit card the minute they open their account, or
speeding up their time in a check out line. Our goal is to continue to
innovate and provide them with proven payment tools now and in years to
come."
The pilot allows U.S. Bank and its customers to explore the benefits of
combining three new technologies into one card - instant issuance,
unembossed personalization and contactless payment. The instant issue
debit card provides many benefits to the customer because the permanent
debit card can be issued in the branch at the time the customer opens a
checking account, rather than that same customer getting an initial
temporary card, then waiting for the permanent one to arrive days later
in the mail. Unembossed personalization provides greater security and
customer satisfaction and Visa payWave allows the customer to pay for
purchases by simply waving the card in front of a reader instead of
swiping it, speeding up the payment process.
U.S. Bank chose the metropolitan areas of Denver and Salt Lake City for
its strong U.S. Bank presence in both cities and because customers there
are familiar with contactless payment. Many merchants currently offer
Visa payWave readers as a payment option.
Visa provides the Visa payWave feature in this program, while Dynamic
Card Solutions (www.instantissuance.com)
is providing the software and hardware necessary to personalize and
issue the debit cards instantly at the branches.
The U.S. Bank branches participating in the pilot in Utah are located at
4135 South Redwood Road, 170 South Main Street and 888 East 4500 South
in Salt Lake City, as well as 1884 North University Parkway in Provo
and 7080 South Redwood Road in West Jordan. In Colorado, U.S.
Bank branches at 950 17th Street in Denver and 8441
West Bowels Avenue in Littleton are participating.
U.S. Bancorp (NYSE: USB), with $266 billion in assets, is the parent
company of U.S. Bank, the 6th largest commercial bank in the United
States. The company operates 2,850 banking offices and 5,173 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. Visit U.S. Bancorp on the web at www.usbank.com.
SOURCE: U.S. Bank
U.S. Bank Media Relations
Teri Charest, 612-303-0732
teri.charest@usbank.com
