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U.S. Bank Forms Strategic Channel Partnership with Adelman Travel

ORLANDO, Fla.--(BUSINESS WIRE)--Jul. 27, 2015-- U.S. Bank is entering into a strategic alliance with global travel management services provider Adelman Travel, through which Adelman will offer U.S. Bank’s suite of corporate payment products, including its virtual payment technology, to corporate payment clients. Under the agreement, U.S. Bank’s industry-leading global payment tools will be integrated with Adelman’s booking and back-office solutions. This will enable mutual clients to leverage Adelman’s managed travel solutions and U.S. Bank’s payment products, including corporate cards, purchasing cards, central billing accounts, e-payables and single-use virtual cards.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20150727005829/en/

Example of U.S. Bank-Adelman Travel co-branded card product (Photo: Business Wire)

Example of U.S. Bank-Adelman Travel co-branded card product (Photo: Business Wire)

“Now Adelman’s customers have one complete global corporate payment solution, backed by one of the world’s leading financial institutions,” said Steve Cline, president and chief operating officer of Adelman Travel. “This allows our corporate clients to gain a clear picture of their entire spend and maximize their rebate earnings while reducing their travel management program fees. Integrating travel, expense, and now credit card data meets our company’s mission to successfully manage the complete data cycle and help organizations promote tighter enforcement of travel policies.”

As part of the agreement, U.S. Bank’s virtual payment solution will be made available to joint clients with no additional fees. Additionally, the U.S. Bank virtual card spend will be uniquely incorporated into a company’s entire card program spend, resulting in increased rebate earnings.

“Adelman’s highly regarded travel management solutions are a perfect fit with U.S. Bank’s suite of innovative and efficient global payment technologies,” said Bradley Matthews, head of Middle Market Product & Marketing for U.S. Bank Corporate Payment Systems. “This integration offers significant advantages to business travelers and travel program managers alike, while greatly simplifying booking, payment and reconciliation.”

The Adelman Travel agreement was one of two announced by the bank at this week’s Global Business Travel Association (GBTA) conference. The second announcement was a strategic agreement with Chrome River Technologies.

About U.S. Bank

Minneapolis-based U.S. Bancorp (NYSE: USB), with $419 billion in assets as of June 30, 2015, is the parent company of U.S. Bank National Association, the fifth largest commercial bank in the United States. The Company operates 3,164 banking offices in 25 states and 5,020 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.

About Adelman Travel

Adelman Travel is a Milwaukee -based travel agency with more than $600 million in annual revenue. Adelman specializes in corporate travel management, global consolidations, vacation travel, meeting and incentive planning and rewards travel. The company has regional travel solution centers and corporate on-sites in the U.S. and dedicated affiliate offices in Asia, Canada and Europe. Learn more at www.adelmantravel.com.

Source: U.S. Bancorp

U.S. Bank Corporate Communications
Bill Brady, 612-303-0731
Adelman Travel Group
Steve Cline, 414-410-8351

"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.

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