Our transformation

Embedded payments, focused strategies and expanded distribution

Family checking out at register using U.S. Bank mobile app

The world is becoming more digitally connected than ever, and many people and businesses are looking for ways to move money quickly and easily. We want to be part of that interaction – whether it is tapping a card at a store, transferring money to a smart device, or sending money to and from clients to businesses instantly. Knowing that, we have made transforming our payments business a priority and are committed to advancing the strategy to meet client needs.

Group photo at the future of finance

Early momentum in payments transformation

We started the year by splitting our payments business into two segments: one focused on consumers and small businesses, and the other on merchants and institutions. This sharpened focus and increased accountability with expanded leadership. Both organizations grew fee revenue year-over-year, in all four quarters of 2025, and by more than 5% in the second half of the year vs. 2024.

Group photo at the future of finance

Embedding payments to help businesses grow

We are accelerating embedded payments solutions across our owned and partner software platforms to deliver seamless experiences. In 2025, our expanded suite introduced secure, efficient integrations for websites, apps, enterprise systems and fintech platforms.

Additionally, our eCommerce offerings for SMBs grew through key partnerships with WIX to provide SMBs with tools to build sites, accept payments, and grow digital storefronts through multiple channels, and through WooCommerce to enable North American merchants to quickly access payment services and reach new markets.

Expanding the reach of Elan

In 2025, we expanded our multi-channel distribution and the reach of our Elan Financial Services credit card program through a new partnership with Fiserv. Elan is now integrated into the scaled banking platform Credit Choice, which delivers a digital-first, branded agent-bank credit card program for consumer and small business cardholders.

Growing our services globally

We launched Global Transaction Services to address clients’ international banking and payment needs. This team collaborates across multiple U.S. Bank businesses to help U.S.- based clients reduce cross-border payment costs by efficiently converting funds into over 60 currencies for transactions in more than 100 countries.

Cryptocurrency, stablecoins and other digital assets

With the growing demand for digital assets, we created a new team to capture our share of the market through products like stablecoin issuance, cryptocurrency custody, asset tokenization, and digital money movement. We also resumed cryptocurrency custody services as an early access program for clients. Our product set helps support this ecosystem, and we are now the custodian for reserves backing payment stablecoins for Anchorage Digital Bank, the first U.S. crypto-native bank with a federal charter.