U.S. Bancorp

March 09, 2005 08:00 ET

NOVA Partners with Costco Wholesale Canada to Extend Card Processing Services to Costco Business Members


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: U.S. BANCORP

NYSE SYMBOL: USB

MARCH 9, 2005 - 08:00 ET

NOVA Partners with Costco Wholesale Canada to Extend
Card Processing Services to Costco Business Members

ATLANTA--(CCNMatthews - Mar 9, 2005) -

Credit, Debit and Internet Processing Integrated Through One Provider
Relationship

NOVA Information Systems (NOVA) today announced that its Canadian
affiliate has partnered with Costco Wholesale Canada Ltd. (Costco
Canada) to market and support payment processing services to Costco
Canada's Business Executive Members. NOVA has had a similar agreement
with Costco in the United States since 1997. Rollout commenced in early
March. Costco currently operates 64 warehouse stores located in nine
provinces throughout Canada.

"NOVA is a true partner in extending processing services to Costco
Business Members," said Louise Wendling, senior vice president and
country manager, Costco Canada. "The ability to offer our business
members a solution for all their payment needs that is backed by one
provider brings even more value to the Costco Executive Membership
program."

"This transaction underscores NOVA's commitment to aggressive growth
strategies," said Pamela Joseph, chairman, president and CEO, NOVA. "We
look forward to extending the relationship we've built with Costco in
the United States across the border to Canada. Their excellent
reputation, combined with our competitive payment products, create a
winning processing solution for the small business owner."

NOVA provides consolidated Visa, MasterCard, and Interac debit
processing services. Merchants will have one source for processing,
settlement services, and funding. NOVA offers terminal, PC-software, and
Internet-based solutions to meet the needs of a wide variety of
businesses. NOVA Information Systems Canada has been processing
transactions since October 2004.

About Costco Wholesale Canada

Costco operates a chain of membership warehouses that sell high quality,
nationally branded and selected private label merchandise at low prices
to businesses (Business Members) purchasing for commercial use, personal
use, or resale, and also to individuals (Gold Star Members). Costco
currently operates 451 warehouses, including 333 in the United States
and Puerto Rico, 64 in Canada, 25 in Mexico, 15 in the United Kingdom, 5
in Korea, 5 in Japan and 4 in Taiwan. The Company also operates Costco
Online, an electronic commerce web site, at www.costco.ca.

About NOVA

NOVA Information Systems Canada is an affiliate of NOVA Information
Systems, a leader in the payment processing industry, and a wholly owned
subsidiary of U.S. Bancorp (NYSE:USB). NOVA partners with financial
institutions, independent sales organizations, associations, government
agencies and community banks to offer integrated payment processing
services to their merchants and retailers. NOVA's products include
credit and debit card processing services, software applications,
electronic check conversion, gift card solutions and other value-added
services to more than 750,000 merchant locations in the United States,
Canada and Europe. For more information visit www.novainfo.com.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    NOVA Information Systems
    Michelle Graff, 678-731-5064
    or
    Costco Wholesale Canada
    Ron Damiani, 613-221-2004