MINNEAPOLIS, Aug 23, 2011 (BUSINESS WIRE) --
U.S. Bank, the second-largest corporate travel card issuer in the United
States, will begin issuing commercial cards with EMV chip technology for
U.S.-based international corporate travelers. U.S. Bank's international
cards will enable users to make card payments via the chip-card readers
commonly used overseas or the magnetic stripe readers that still
predominate in the United States.
The new commercial card offering follows on the heels of a June 10
announcement that U.S. Bank had become the first issuer of such "dual
interface" chip technology to the U.S. consumer market with its
FlexPerks Travel Rewards Visa(R) card. The addition of commercial cards
has been in the planning stages for several months in response to client
requests and market research.
"Global card acceptance and compatibility are concerns for customers
engaged in extensive international travel, and we're pleased to offer
them this solution," said Kurt Adams, executive vice president of U.S.
Bank Corporate Payment Systems. "Both Visa and MasterCard have been
engaged with us and support our goal to bring this to the U.S. market as
quickly as possible."
U.S. Bank already issues chip-enabled cards to its commercial customers
in Canada. In July, the bank began issuing commercial cards with full
chip-and-PIN capability for corporate clients in Europe.
About U.S. Bank
U.S. Bancorp (NYSE: USB), with $321 billion in assets as of June 30,
2011, is the parent company of U.S. Bank, the fifth-largest commercial
bank in the United States. The company operates 3,086 banking offices in
25 states and 5,086 ATMs and provides a comprehensive line of banking,
brokerage, insurance, investment, mortgage, trust and payment services
products to consumers, businesses and institutions. U.S. Bancorp and its
employees are dedicated to improving the communities they serve, for
which the company earned the 2011 Spirit of America Award, the highest
honor bestowed on a company by United Way. Visit U.S. Bancorp on the web
SOURCE: U.S. Bank
U.S. Bank Public Relations
Teri Charest, 612-303-0732