The U.S. Bancorp (NYSE:USB) announced the launching of its new mobile payment service dubbed 'U.S. Bank Go Mobile'.
The new service would allow its customers pay for purchases using their iPhone 4 or iPhone 4S, easily and securely. 'U.S. Bank Go Mobile' will be initially tested in Salt Lake City, Utah and Portland, Oregon.
According to U.S. Bancorp (NYSE:USB), the service will be introduced first in beta with new FlexPerks Travel Rewards Visa Signature account holders before its wider roll out this year. The bank said customers with newly approved U.S. Bank FlexPerks, who qualify and chose to use the service will receive a new card and a U.S. Bank Go Mobile iPhone case integrated with a Near Field Communication (NFC) payment technology. The case has an extra battery that extends the phone’s charge time by more than 50 percent.
In a statement, Dominic Venturo, chief innovation officer at U.S. Bank Payment Services said, “We have incorporated all of the feedback we have received from prior pilots and our customer research into this latest offering and we are excited to offer U.S. Bank Go Mobile in these two markets.”
The U.S. Bank Go Mobile also enables customers make payments using their iPhones securely, even if they don’t have their FlexPerks card with them. The bank made an assurance that the app is secured by bank-grade encryption, pass code protection, strong privacy protection, zero fraud liability and real-time fraud monitoring.
In addition, U.S. Bancorp (NYSE:USB) emphasized that the micro NFC Card is embedded with a portable secure element. The micro NFC card and FlexPerks smart card will be personalized with Datacard secure issuance solution to superior efficiency and security.
U.S. Bank is bringing the mobile payment service to customers in partnership with Visa Inc (NYSE:V), DeviceFidelity, and Datacard Group.