US Bank will begin to issue commercial cards for corporate clients in Europe in mid-2011. This will give North America-based multinational customers of US Bank the opportunity to extend their US Bank corporate card programmes to employees of their European operations and easily aggregate global spending data.
“Increasingly, our North American-based multinational clients want consolidated worldwide reporting of data for rapid analysis of commercial card use,” said Kurt Adams, senior vice president (SVP) of strategy and product at US Bank corporate payment systems. “They also want their card programmes to fall under a single global contract with a single point of approval and a single service contact. By issuing our own corporate cards internationally, we’ll be in an excellent position to serve them.”
Elavon Financial Services, a subsidiary of US Bank parent company, US Bancorp, will issue the cards. The main focus initially will be to issue cards to customers in the UK and Ireland, France, Germany, Spain and Italy. Additional European countries will follow quickly to meet customer demand. The bank initially plans to offer settlement options in euro and British pound sterling and will support its customer language requirements in English, French, German, Italian and Spanish. The cards will meet European technology standards, including full Chip-and-PIN capability.
Alan Gibson, director of European commercial payments for US Bank corporate payment systems, is overseeing the activities and the ongoing product strategy. Former director of commercial cards for Tsys Europe, Gibson couples commercial payment expertise with local market knowledge. He is based in the UK.
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