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Press release from Business Wire

U.S. Bank Expands Digital Wallet Options for Its Customers with Addition of Square

Thursday, July 18, 2013

U.S. Bank Expands Digital Wallet Options for Its Customers with Addition of Square

10:00 EDT Thursday, July 18, 2013

MINNEAPOLIS (Business Wire) -- U.S. Bank – a leader in delivering mobile purchasing power to its customers – has added Square to its digital wallet options available to customers via their iOS and Android smartphones. Customers can link their U.S. Bank credit, debit, or prepaid account to the Square application to make purchases from their smartphone.

“Commerce is changing,” said Dominic Venturo, chief innovation officer for U.S. Bank Payment Services. “The proliferation of smartphones is altering the way consumers shop, compare products and make purchases. Our goal is to be where our customers are, and with the evolving marketplace, it's important for us to support a variety of state-of-the art payment solutions to give customers the flexibility that they have come to expect from U.S. Bank.”

Square wallet can be used at merchant locations that sell with Square. Customers can discover nearby businesses using Square wallet, and pay at the point of sale with their mobile device by simply saying their name. Square's technology automatically manages the transaction from the customer's U.S. Bank payment account to the merchant. Transactions are completed without the cashier ever having the customer's account number and other sensitive data.

“We share a strong commitment with U.S. Bank to helping local businesses thrive,” said Chuck Kimble, head of strategic partnerships with Square. “Square Wallet gives U.S. Bank customers an easy and engaging way to discover and pay at great businesses in their neighborhood – all from their phone.”

U.S. Bank is recognized as an innovator in the financial services industry, and is engaged with multiple wallet providers, to ensure our cardholders have choices when it comes to digital wallets. U.S. Bank customers can choose to register with one or more wallets that we offer and shop with confidence at any store that displays a wallet's logo, knowing they continue to be protected by layers of security and zero-fraud liability.

About Square
Square Wallet, available in the US, is the most seamless way to pay, enabling individuals to pay at their favorite local businesses, discover new ones nearby, explore menu listings, and store receipts. Founded in 2009, and headquartered in San Francisco, Square is currently available in the U.S. and Canada. More information is available at squareup.com.

About U.S. Bank
U.S. Bancorp (NYSE: USB), with $353 billion in assets as of June 30, 2013, is the parent company of U.S. Bank, the 5th largest commercial bank in the United States. Celebrating its 150th anniversary this year, the company operates 3,087 banking offices in 25 states and 5,032 ATMs 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.

Teri Charest, U.S. Bank Media Relations
(612) 303-0732, teri.charest@usbank.com

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