U.S. Bank Marks Fourth Anniversary of European Commercial Card Issuance
May 14 2015 - 12:05PM
Business Wire
As some financial institutions shrink their international
commercial card commitments, this month U.S. Bank celebrates four
years of issuing corporate travel cards in Europe. Distributed
through its wholly owned subsidiary, Elavon Financial Services, the
bank’s European travel card now offers settlement options in nine
currencies and serves North American-based multinationals operating
in 33 countries across the continent.
The bank’s European presence has grown steadily with its
customers’ deepening global needs. In addition to the corporate
travel card, U.S. Bank’s European offerings now include corporate
purchasing cards, freight payment trade finance and virtual
payments for both travel and purchasing.
"Where others see challenges supporting global card programs due
to the complexity of different market regulations, we see
opportunity to better serve our North American-based customers
globally,” said U.S. Bank Corporate Payment Systems President Kurt
Adams. “We augment our self-issuance in Europe, Canada and the
United States with a strong network of Visa partner banks
elsewhere. Through this two-pronged approach, clients are able to
navigate market-to-market nuances while also reaping the benefits
of a lead global provider. The result of balancing consistent
global standards with in-country flexibility is more control over
global spend and better compliance to travel policies.”
In 2012, U.S. Bank was a founding member of Visa Multinational
Premium Solutions, a worldwide network of leading commercial card
issuing banks offering globally consistent product and data
reporting standards for payment products. Including partner
capabilities, U.S. Bank global payments programs deliver local
solutions in more than 50 countries and 31 currencies.
Commercial customers interested in global payment offerings can
contact the bank at 1-866-274-5898 or INTOUCHWITHUS@usbank.com.
About U.S. Bank
U.S. Bancorp (NYSE: USB), with $410 billion in
assets as of March 31, 2015, is the parent company of U.S.
Bank National Association, the fifth-largest commercial bank
in the United States. The company operates 3,172 banking
offices in 25 states and 5,016 ATMs and provides a comprehensive
line of banking, brokerage, insurance, investment, mortgage, trust
and payment services products to consumers, businesses and
institutions. Visit U.S. Bancorp on the web at
www.usbank.com.
U.S. Bank Corporate CommunicationsBill Brady,
612-303-0731bill.brady@usbank.com
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