Innovation with Finanacial and Environmental Impact

Accurate, timely online payments for businesses combined with integrated trade financing are just the beginning when calculating value for U.S. Bank PowerTrack clients. Global PowerTrack Payables solutions enable clients to increase control, accurately track expenses, improve working capital — and virtually eliminate paper invoices as well. Clients eliminated more than 175 million paper invoices from the payment cycle in 2008 for general payables, freight, utilities, and global trade payments. PowerTrack Utility Payment clients take innovation one step further using robust data collection and reporting tools to monitor energy usage for the companies, facilitating carbon footprint reporting for both financial and environmental savings.

PowerTrack

Enormous capability of payments

"When we looked for a payments partner, we looked for speed, accuracy, guidance, capacity — and a very conspicuous attitude that we would always be their favorite, best customer. That's what we found in U.S. Bancorp Payments Services."

Convenient, secure and downright cool.

A tiny microchip makes it easy for busy on-the-go U.S. Bank customers to pay for purchases with Visa payWave debit cards or the tiny payWave Micro Tag. And a U.S. Bank online banking customer's cell phone can be a payment "wave" device as well.

Supporting innovative ideas,

U.S. Bancorp Community Development Corporation, in collaboration with other partners, will finance the building of Oregon's largest solar electric system. This 870 kilowatt system will save a Portland-area non-profit industrial complex approximately $75,000 a year in energy costs.

At U.S. Bank, a new climate of revenue-generating innovation and accelerated product development has been created through an exclusive process developed by our Enterprise Revenue Office. The process drives innovation from a wide range of sources. This approach results in an array of corporate-wide initiatives with centralized oversight, as well as market- and customer-driven ideas from the field. New ideas with potential are assessed on a fast track. They move through filters of market research findings, technological capability, line-of-business ownership and pilot programs or test marketing. This new focus on innovation overlays our historical emphasis on basic traditional banking.

Banking industry leads innovation

Home equity loans and money market accounts in the 80s... free checking, check cards and Internet bill paying in the 90s... gift cards and electronic payment devices since the year 2000. The banking industry has quietly led the world in new products, delivery systems and payment methods. We build on that legacy.

The following are a few examples of new products, packages and services we are testing or have launched. Every one is designed to bring value-added benefits to our customers and to generate revenue for U.S. Bancorp.

To meet different financial needs, our new Silver, Gold and Platinum Consumer Banking Packages offer consumers the convenience of combining accounts, while saving them time and offering the opportunity to save money as well. Every Five Star Package includes a U.S. Bank Five Star Checking Account and the customer's choice of a U.S. Bank Five Star Money Market Savings and/or U.S. Bank Visa® Platinum Credit Card. Additional services provide additional benefits. We have also introduced Silver, Gold and Platinum Checking Account packages to businesses. These provide the convenience of consolidating accounts, while saving the business owner time and money.


Customer access to account information will be even more convenient with new U.S. Bank Mobile Banking features. Mobile banking is available for all U.S. Bank Internet banking customers. U.S. Bank Mobile Banking allows customers to securely and safely check account balances, view transaction history, transfer money between accounts and locate U.S. Bank branch and ATM locations from their mobile phones.

Banking on the go

U.S. Bank has partnered with Visa to make paying for goods and services about as easy as it comes. New debit cards with the payWave feature let customers make a purchase by simply holding their card near a card reader at checkout. No cashier, no swiping. Taking it one step further, we also are testing payWave Stickers, another innovation in contactless payment devices. The customer can just wave a sticker adhered to their mobile phone instead of using a card. And the ultimate — we are also piloting the Visa Micro Tag, the smallest VisapayWave-enabled device currently available. The U.S. Bank Visa Micro Tag easily attaches to a key ring and allows Micro Tag holders to simply wave and pay.

As our innovation process and culture matures, you can expect to hear about more new ideas, more partnerships and more revenue.