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FRED MEYER NOW ACCEPTS VISA FOR GROCERIES

 FRED MEYER NOW ACCEPTS VISA FOR GROCERIES
 SAN FRANCISCO, Nov. 2, /PRNewswire/ -- Visa U.S.A. announced today


that Portland, Ore.-based Fred Meyer Inc. (NASDAQ: MEYR) has begun accepting Visa cards to purchase groceries at all its stores.
 Fred Meyer operates 123 stores in seven western states, with 69 of the stores in six states having full food departments. The company has accepted Visa for nonfood products for more than two decades. This is the first time it has taken Visa cards for groceries, as well.
 "We have recognized a growing consumer demand for this type of service," Curt Lerew, senior vice president of Fred Meyer's Food Group, said. "Now our customers can pay for all their Fred Meyer purchases with one easy payment method."
 U.S. Bank of Oregon, also headquartered in Portland, will be processing all Fred Meyer Visa transactions, extending their 25-year relationship of providing Visa acceptance in nonfood departments.
 "We are pleased to assist Fred Meyer in providing this payment option to our Visa credit and debit cardholders," said Bartt Brick, senior vice president of merchant services for U.S. Bank. "This additional service with Fred Meyer is an example of the range of payment options merchants can provide their customers and that can be processed through U.S. Bank. We are especially excited to see this move because our Visa cardholders have shown so much interest in buying food items with the card."
 "This commitment from Fred Meyer comes while Visa acceptance at supermarkets is snowballing by a dizzying 134 percent over last year's figures," said Wesley C. Tallman, executive vice president of consumer products for Visa U.S.A. "We expect this momentum to continue in the months to come."
 Visa's market leadership is reflected by the more than 7,500 supermarkets that accept Visa, an increase of 4,500 locations in the last year. In addition, 80 percent of the top 50 supermarket chains accept Visa. As a result of this increased market penetration, Visa expects its supermarket volume to reach $1.7 billion for the entire year, compared with $981 million in 1991.
 Fred Meyer is a leading regional retailer of a wide range of food, apparel, general merchandise, home electronics, fine jewelry and home improvement products sold in one-stop-shopping stores ranging in size up to 200,000 square feet. The company employs 24,000 people and operates 123 stores in Oregon, Washington, Utah, Idaho, Alaska, California, and Montana.
 U.S. Bank of Oregon is a subsidiary of U.S. Bancorp (NASDAQ: USBC), the largest financial services company headquartered in the Northwest. With assets of $21.1 billion as of Sept. 30, 1992, U.S. Bancorp is one of the nation's 35 largest financial institutions, and has ranked among the top tier of these companies in performance and capital strength for the last several years. Other U.S. Bancorp subsidiaries include U.S. Bank of Washington, U.S. Bank of California, U.S. Bank of Nevada and U.S. Bank of Idaho.
 Visa is the largest consumer payment card system in the world. It has more than 10 million acceptance locations, the leading global ATM network, and issuance of 291 million debit and credit cards worldwide, including 144 million in the United States.
 -0- 11/2/92
 /CONTACT: Debbe Stern of Visa U.S.A., 415-570-3510; or Rob Boley of Fred Meyer, 503-233-7176; or Mary Ruble of U.S. Bank, 503-275-6200/
 (MEYR USBC) CO: Visa USA; Fred Meyer Inc.; U.S. Bank of Oregon; U.S. Bancorp ST: California, Oregon, Washington, Idaho, Utah, Alaska, Montana IN: FIN SU:


TM -- SF001 -- 1533 11/02/92 11:02 EST
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Publication:PR Newswire
Date:Nov 2, 1992
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