U.S. Bank Issues Its 20 Millionth Gift Card; Remains Number One Visa Gift Card Issuer in the Nation

MINNEAPOLIS--(www.AllPayNews.com)--U.S. Bank issued its 20 millionth gift card this week, solidifying its place as the top Visa gift card issuer and a leader in prepaid cards across the United States. U.S. Bank reached the 10 millionth gift card milestone in July 2006, doubling its program in just over a year.

“Gift cards have very quickly worked their way into the minds of all consumers as we become more and more accustomed to the convenience, safety and acceptance of prepaid cards in lieu of checks or cash,” said Ralph Bianco, senior vice president and head of U.S. Bank’s prepaid cards program.

U.S. Bank gift cards are available throughout the United States where consumers shop such as at many of the nation’s leading malls and at all 2,512 U.S. Bank branches or online at www.usbank.com.

U.S. Bank has made several enhancements to the U.S. Bank Visa Gift Card in the last year. Customers who purchase the cards online now have a choice of five gift card designs. The gift cards are also displayed and available for purchase in the branch, perfect for those who are running out of ideas or time to purchase that perfect gift.

There are three major spikes in gift card sales that tend to come in the spring and summer around graduation and Father’s Day (“dads and grads”), in the fall when kids head back to school and around the December holiday season.

Prepaid cards are an important area of business for U.S. Bank. In addition to gift cards, U.S. Bank issues prepaid cards for payroll, general purpose spending and rebates. U.S. Bank is the leader in the use prepaid cards for state-sponsored disbursements, such as for unemployment insurance, child support, child care and temporary assistance for needy families. It was one of the first to partner with states for these types of payments, and continues to be a leader in the industry in the use of prepaid cards as an alternative to cash and checks.

U.S. Bancorp (NYSE:USB), with $228 billion in assets, is the parent company of U.S. Bank, the 6th largest commercial bank in the United States. The company operates 2,512 banking offices and 4,870 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.

Contacts
U.S. Bank
Teri Charest, Media Relations, 612-303-0732