|April 28, 2014|
U.S. Bank Expands Global Corporate Travel Program
|U.S. Bank announced today that it has expanded its global corporate travel-card program to better support multinational customers who are looking to centralize their global card programs. |
"U.S. Bank truly is a global payments provider, with broad acceptance and local currency capabilities in over 50 countries," says Mary Miklethun, vice president of U.S. Bank Travel Payment Solutions. "Our experience, solutions, and network make it easy for U.S.-based companies to extend their card-program reach into more markets where they do business. The U.S. Bank Global Travel Card allows organizations to manage their program globally but benefit from locally responsive services and expertise, such as local time zones, languages, and account management."
Alan Gibson, U.S. Bank vice president of Commercial Payments, European and Emerging Markets, says that local-currency travel cards, in particular, are more than a convenience to clients. "They create cost savings, transparency and efficiency across geographies, as they eliminate foreign transaction fees as well as billing and payment challenges. Customers can rely on their corporate travel card -- as opposed to petty cash or cash advances -- and organizations can capture deeper, more consolidated transaction data on every purchase."
As part of the program expansion, the bank has added six new European currencies - Czech Koruna, Danish Krone, Hungarian Forint, Norwegian Krone, Polish Zloty and Swedish Krona.
"The investment we're making in our global travel program is essential for our clients, who are increasingly international," adds Miklethun. "We are proud to be the partner who ensures they succeed."
U.S. Bancorp, with $371 billion in assets as of March 31, 2014, is the parent company of U.S. Bank National Association, the 5th largest commercial bank in the United States. The Company operates 3,083 banking offices in 25 states and 4,878 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions.