LINCOLN, Neb. (AP) — Nebraska has signed a new contract for card processing services that could save the state $550,000 over five years.

State Treasurer Don Stenberg says the new contract with U.S. Bank will go into effect on Oct. 1. The state’s current payment card processing provider is First National Bank and TSYS Merchant Solutions.

Stenberg says state officials expect to see greater volume as more Nebraska residents shift from using cash to credit and debit cards when making payments. The state processed more than $154 million in credit and debit card transactions last year, up from the $153.9 million in 2013.

All state agencies, including the University of Nebraska and state colleges, are required by law to process their card transactions under the state contract.