MINNEAPOLIS & LONDON--(BUSINESS WIRE)--July 12, 2005--U.S. Bank
has expanded its ability to issue and service cards internationally by
partnering with Banco Uno in Nicaragua and National Bank of New
Zealand. U.S. Bank now issues and services cards in 37 countries, with
statements in the local language and currency. Additional expansion
will be announced soon.
The expansion into Nicaragua and New Zealand is through Global
Commercial Payments Solutions (GCPS), a global joint venture between
Visa and key Visa commercial card issuers. U.S. Bank was one of seven
lead banks in GCPS, which enables it to offer clients a seamless
commercial card structure and data exchange solution to support their
multinational corporate and purchasing card programs.
"We're excited to welcome our two new bank partners and increase
our areas of coverage," said Robert Abele, executive vice president of
U.S. Bank Corporate Payments Systems. "Most of our larger U.S. clients
are already doing some degree of international business. Consequently,
they expect us to have a consistent, cohesive global offering to
support their overseas operations or cardholders in as many countries
as we can."
In addition to the lead banks that provide local banking services
in nine countries, GCPS includes 16 "partner banks" that can issue
commercial cards in an additional 28 countries. More than a dozen U.S.
Bank clients have "gone global" in the last 12 months, and more than
30 companies worldwide have implemented programs through GCPS,
representing an overall charge volume in excess of $1.75 billion.
"Multinational business is integral to U.S. Bank's commercial
plans," Abele added. "GCPS has proven to be a great conduit through
which to cross sell and expand our corporate banking relationships by
providing our suite of transactional products and outstanding customer
service on a global scale."
Headquartered in London and launched in 2001, GCPS provides wide
geographic coverage, global reporting and local market expertise
through a single core contract, one point of contact, local support
and management with centralized monitoring and control. For more
information visit GCPS on the web at: gcpsinfo.com.
U.S. Bank Corporate Payment Systems, a division of U.S. Bancorp,
offers clients a full suite of solutions for commercial, fleet and B2B
payment needs. U.S. Bank was the first to offer corporate bankcard,
purchasing and relocation card programs, the first to offer a
private-label fleet card and is one of the largest merchant acquirers
in the world.
U.S. Bancorp (NYSE:USB), with $198 billion in assets, is the 6th
largest financial holding company in the United States. The company
operates 2,377 banking offices and 4,654 ATMs in 24 states, and
provides a comprehensive line of banking, brokerage, insurance,
investment, mortgage, trust and payment services products to
consumers, businesses and institutions. U.S. Bancorp is home of the
Five Star Service Guarantee in which the company pays customers if
certain key banking benefits and services are not met. U.S. Bancorp is
the parent company of U.S. Bank. Visit U.S. Bancorp on the web at
CONTACT: U.S. Bank
Corporate Payment Systems
Dan Endy, 612-973-1512
Teri Charest, 612-303-0732
SOURCE: U.S. Bank