March 20 – U.S. Bank Corporate Travel Card clients will soon have the convenience of paying for expenditures via mobile with Apple Pay, Android Pay or Samsung Pay. This new functionality allows commercial cardholders to conveniently and securely pay on the go with compatible devices, making U.S. Bank the first financial institution to offer a mobile payment solution for Visa corporate card transactions.
“Business travelers are increasingly expecting the same convenience and security in their business transactions as they experience with their personal transactions,” said Jeff Jones, president of U.S. Bank Corporate Payment Systems. “Consumer use of mobile payments is growing every day. Launching a corresponding capability for business travelers is the next logical step. This new functionality is a great compliment to our U.S. Bank Access Online mobile app. Together, they become a powerful mobile toolkit for managing commercial card accounts on the go.”
As with consumer transactions, paying via mobile payments offers added layers of security through a process called tokenization, which protects sensitive credit card information and reduces opportunities for fraud because actual card numbers are not stored on the device or at the retailer. In many cases, this provides for a more secure and quicker transaction than using a physical card at checkout.
“More and more consumers are enjoying mobile payments in their personal life and expect to use the same easy ‘one handed’ payment solution when they are working and traveling in their professional life,” said Vicky Bindra, global head of Products and Solutions for Visa. “For this reason, we are thrilled to work with U.S. Bank to help enable the security and convenience of mobile payments to U.S. Bank corporate card customers.”
Select U.S. Bank commercial clients can add their U.S. Bank Corporate Travel Card to their mobile payment app service now. A wider launch to all commercial clients is scheduled later this spring. Commercial customers of the bank are encouraged to contact their U.S. Bank commercial card relationship manager or account coordinator with questions.
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About U.S. Bank (www.usbank.com)
Minneapolis-based U.S. Bancorp (NYSE: USB), with $446 billion in assets as of December 31, 2016, is the parent company of U.S. Bank National Association, the fifth largest commercial bank in the United States. The Company operates 3,106 banking offices in 25 states and 4,842 ATMs and provides a comprehensive line of banking, investment, mortgage, trust and payment services products to consumers, businesses and institutions.