U.S. Bank Home   Customer Service   Contact Us   Locations   Careers   About U.S. Bancorp   
U.S. Bank



Related Links
Careers at U.S. Bancorp
Community Relations
Corporate Governance
IR Tool Kit
Print PagePrint Page
E-mail PageE-mail Page
RSS FeedsRSS Feeds
IR ContactsIR Contacts

Printer Friendly Version View printer-friendly version
<< Back
U.S. Bank Unveils Multiple Enhancements to Boost Cardless Business Travel Payments

Travel VirtualPay to Add Airfare Capability and Real Time Credit Limits; Payment Plus Direct Will Speed Reimbursements for Travel Agencies

LOS ANGELES--(BUSINESS WIRE)--Jul. 29, 2014-- U.S. Bank this week announced a suite of new tools for making cardless “virtual” travel spending faster, easier and more secure. The new capabilities are being introduced at the Global Business Travel Association’s annual conference July 26-30, and include:

  • U.S. Bank Travel VirtualPay allows business travelers to pay hotel charges with virtual account numbers. New functionality captures airfare transactions as well, making U.S. Bank the first bankcard issuer in North America to provide cardless air payments that are fully integrated with Sabre, the world’s largest travel marketplace provider, and its payment technology partner Conferma. The new airfare functionality is finishing up a pilot test with U.S. Bank customer Macy’s and is now available for the wider market.
  • Real-time credit limit change capability for Travel VirtualPay allows for instant anytime adjustment. An account’s credit limit can exactly match the approved booking amount, further increasing payment security and reducing the chances for misuse or improper spending.
  • U.S. Bank Payment Plus Direct is a faster and more secure reimbursement tool for third-party service providers, such as travel agencies. When the agency books a flight or hotel on behalf of a customer, it pays the service provider (e.g., the airline or hotel) via a single-use account number which has been provided by U.S. Bank. The single-use account contains the exact amount owed, down to the penny. Payment is available instantly, reconciliation occurs automatically and specific data elements – such as a confirmation number – get linked to each account for easy tracking.

“Research shows that travel buyers and suppliers are looking for the benefits provided by single use virtual accounts, but often don’t realize they’re available,” said U.S. Bank Travel Product Manager Mary Miklethun. “The enhancements we’re now introducing, making such accounts even more secure and easier to use, promise to widen their appeal and bring them into the business travel mainstream.”

About U.S. Bank
U.S. Bancorp (NYSE: USB), with $389 billion in assets as of June 30, 2014, is the parent company of U.S. Bank National Association, the 5th largest commercial bank in the United States. The Company operates 3,174 banking offices in 25 states and 5,005 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 usbank.com.

Source: U.S. Bank

U.S. Bank Public Relations
Teri Charest, 612-303-0732

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding U.S. Bancorp's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.

The information that is on or available through this site is for informational purposes only and speaks only as of the particular date or dates of that information. We do not guarantee the accuracy or completeness of information on or available through this site, and we are not responsible for inaccuracies or omissions in that information or for actions taken in reliance on that information. U.S. Bancorp does not undertake an obligation, and disclaims any duty, to update any of the information on or available through this site.

This site is supported through the use of Microsoft Internet Explorer Browser, version 6.x or higher. Use of older or other browsers may cause pages to improperly display. We regret any inconvenience that this may cause.

Privacy Pledge   |   © 2010 U.S. Bancorp Site Map   |   Careers