U.S. Bank Mobile Payment Expands to Mastercard Business Travel Cards
April 11 2018 - 9:23AM
Business Wire
Bank brings pay-on-the-go service to Mastercard
commercial travel cardholders with compatible devices
The U.S. Bank Corporate Travel Card is expanding its mobile
capabilities to Mastercard corporate card transactions. Clients
whose business travel cards run on the Mastercard network can now
pay for purchases via mobile devices. With this expansion, U.S.
Bank now offers the convenience and security of mobile payments for
all corporate travel cards issued in the United States.
“Our clients who have adopted mobile commercial payments are
responding with great enthusiasm to its use for business travel,”
said U.S. Bank Global Bankcard General Manager Jeff Rankin. “At the
same time, the number of hotels, airlines and other merchants
accepting contactless payments via mobile phones is climbing. By
2020, experts predict the volume of mobile payments will jump by 80
percent from 2015 levels1. These trends are making the on-the-road
payment experience increasingly easier and more secure. We’re
delighted to partner with Mastercard to help advance that
vision.”
Mobile payments offer added layers of security by connecting
transactions to both users and their devices with technology called
tokenization. Tokenization is a safe way to send sensitive data by
replacing the actual information, for example, a card account
number, with a proxy, known as a token. The token is protected both
in-transit and at-rest. This reduces opportunities for fraud
because actual card numbers are not stored on the device or at the
retailer.
“Consumers expect to have multiple ways to pay including cards,
phones and other mobile devices,” said Ed Glassman, EVP of North
America Account Management for Mastercard. “It makes sense to bring
these same options to the world of commercial cards. Mastercard is
pleased to join forces with U.S. Bank to make life a little easier
and more secure for business travelers.”
Commercial customers of the bank are encouraged to contact their
U.S. Bank commercial card relationship manager or account
coordinator with questions about mobile corporate payments.
To watch a short U.S. Bank video, “Pay as You Phone,” click
on this link.
©2018 U.S. Bank
About U.S. Bank (www.usbank.com)Minneapolis-based U.S.
Bancorp (NYSE: USB), with $462 billion in assets as
of December 31, 2017, is the parent company of U.S. Bank
National Association, the fifth largest commercial bank in the
United States. The Company operates 3,067 banking offices in 25
states and 4,771 ATMs and provides a comprehensive line of banking,
investment, mortgage, trust and payment services products to
consumers, businesses and institutions.
About Mastercard (www.mastercard.com)Mastercard (NYSE:
MA) is a technology company in the global payments
industry. It operate the world’s fastest payments processing
network, connecting consumers, financial institutions, merchants,
governments and businesses in more than 210 countries and
territories. Mastercard products and solutions make everyday
commerce activities – such as shopping, traveling, running a
business and managing finances – easier, more secure and more
efficient. Follow us on Twitter @MastercardNews, join the
discussion on the Beyond the Transaction Blog and subscribe for the
latest news on the Engagement Bureau.
1 National Federation of Independent Businesses, 2018 Tech
Trends for Small Business
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U.S. Bank Corporate CommunicationsBill Brady,
612-303-0793Mobile:
651-728-2248bill.brady@usbank.comorMastercard
CommunicationsBeth Kitchener,
914-249-2058beth.kitchener@mastercard.com
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