Additional new capabilities include ability to request money and
send personalized greetings
MINNEAPOLIS--(BUSINESS WIRE)--Apr. 28, 2014--
U.S. Bank, lead bank of U.S. Bancorp (NYSE: USB) is the first large bank
in the country to offer real-time person-to-person payments online and
through mobile devices using the Popmoney® Instant
Payments feature, a product of Fiserv, Inc. (NASDAQ: FISV).
The real time person-to-person (P2P) payment feature expands U.S. Bank’s
existing P2P payment service, which it has offered for over a year. Now,
customers can send money instantly to friends, family and service
providers who bank at participating financial institutions. Instant
receipt of funds depends on network availability and, for financial
institutions that do not offer the Popmoney personal payments service,
depends on the funds availability policy of the financial institution.
In addition, U.S. Bank now offers its customers the ability to request
money, which is good for families with kids in college, or as a way to
eliminate the awkwardness and hassle of collecting money from another
person or a group. Another enhancement recently offered by U.S. Bank
enables customers to make the gift of money much more personal by giving
customers the option to select virtual cards to attach to payments made
over email for special occasions such as birthdays, graduation or
holiday gifts.
These new features are available via U.S. Bank online and mobile
banking, giving customers more ways to send, request or receive money
using their friend or family member’s account number, email address or
mobile phone number. In addition to the Instant Payment option, U.S.
Bank customers can choose from next day or standard P2P payments.
“Providing our customers with the latest digital banking and payment
capabilities is a priority for U.S. Bank,” said Brendan Devine, vice
president of money movement at U.S. Bank. “It’s not just about the ‘wow’
factor associated with having the bells and whistles that no one else
has, but about U.S. Bank being a trusted resource that our customers
turn to first when they want to manage or move their money.”
“Designing payment solutions using a ‘real-time first’ mentality, which
assumes that real-time is the ultimate standard of delivery, is a
guiding principle in the ongoing Fiserv initiative to make faster
payment options available to consumers,” said Marc West, senior vice
president, Electronic Payments, Fiserv. “The powerful combination of
real-time and mobile opens new doors for adoption and use of
person-to-person payments, and U.S. Bank is at the forefront of this
trend.”
About Fiserv
Fiserv, Inc. (NASDAQ: FISV) is a leading global
technology provider serving the financial services industry, driving
innovation in payments, processing services, risk and compliance,
customer and channel management, and business insights and optimization.
For more information, visit www.fiserv.com.
About U.S. Bancorp
U.S. Bancorp (NYSE: USB), with $371
billion in assets as of March 31, 2014, is the parent company of U.S.
Bank National Association, the 5th largest commercial bank in the United
States. The company operates 3,083 banking offices in 25 states and
4,878 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
usbank.com.
Source: U.S. Bank
U.S. Bank Corporate Public Relations
Teri Charest, 612-303-0732
teri.charest@usbank.com