U.S. Bancorp is focused on point-of-sale smartphone payment technology. The bank also was working on an app called “Peri” that would allow customers to scan items in the real world and then buy them using their mobile device.

What happened: The big news in payments in 2014 was Apple Pay. U.S. Bancorp launched the service for its cardholders on Nov. 3. The rollout was billed as a big step forward for smartphones as payment method, a technology that has struggled for years to gain traction with U.S. shoppers and merchants. Joseph said U.S. Bancorp will roll out Peri in early 2015. Also, U.S. Bancorp subsidiary Elavon, which Joseph runs, rolled out FanFare, a loyalty and coupon program that is integrated with payments for small and midsize merchants.