MINNEAPOLIS--(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.