MINNEAPOLIS--(BUSINESS WIRE)--May 14, 2015--
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.
Source: U.S. Bank
U.S. Bank Corporate Communications
Bill Brady, 612-303-0731
bill.brady@usbank.com