U.S. Bank Unveils TravelBank-powered Commercial Rewards Card
June 27 2023 - 7:00AM
Business Wire
All-in-one card, expense and travel
management platform designed specifically for emerging middle
market companies
U.S. Bank today launched its first emerging middle
market-focused commercial card solution, the U.S. Bank Commercial
Rewards Card. Powered by TravelBank – the award-winning fintech
U.S. Bancorp acquired in 2021 – the new all-in-one card, expense
and travel management solution will help firms with $10-150 million
in annual revenue automate expense management, better control spend
and earn rebates for business expenses.
“Emerging middle market businesses have similar needs and
opportunities as their larger competitors, but the traditional,
complex corporate card and expense solutions weren’t designed for
them. That’s why we created a solution tailored for emerging middle
market companies that is easy to implement and includes features
many large firms benefit from today,” said Dan Skaggs, head of
middle market bankcard product, U.S. Bank. “With the Commercial
Rewards Card, U.S. Bank is leading the charge in redefining how the
emerging middle market conducts business, opening up new
possibilities and opportunities for growth.”
The Commercial Rewards Card provides emerging middle market
businesses the best of both worlds: the trust, stability and
payment expertise of U.S. Bank alongside the leading user
experience and nimbleness of TravelBank. The solution replaces
time-consuming, manual processes with a single, intuitive platform
to manage an entire travel and expense program. This helps
companies better manage cash flow and obtain core insights into
spend. With dynamic card controls and customizable travel policies,
the Commercial Rewards Card can govern how much can be spent, by
whom, where, and on what type of purchase to ensure policy
adherence.
Unlike many cards designed for small businesses, the Commercial
Rewards Card places liability at the corporate level so employees
don’t have to worry about personal liability. The card also allows
businesses to earn rebates faster with lower spend thresholds than
traditional commercial cards. Employees can also take advantage of
special TravelBank rates and waived booking fees to save money for
the firm, which employers can pass on through employee
incentives.
“When we created TravelBank, we set out to make expense and
travel management easier and more efficient for business
professionals,” said Duke Chung, co-founder and CEO, TravelBank.
“By joining forces with one of the leaders in corporate payments,
we’re making that vision a reality. Both TravelBank and U.S. Bank
have deep experience serving emerging middle market companies and
we’re confident the Commercial Rewards Card will help them continue
to grow.”
About U.S. Bank
U.S. Bancorp, with approximately 77,000 employees and $682
billion in assets as of March 31, 2023, is the parent company of
U.S. Bank National Association. The Minneapolis-based company
serves millions of customers locally, nationally and globally
through a diversified mix of businesses: Consumer and Business
Banking; Payment Services; Corporate & Commercial Banking; and
Wealth Management and Investment Services. Union Bank, consisting
primarily of retail banking branches on the West Coast, joined U.S.
Bancorp in 2022. U.S. Bancorp has been recognized for its approach
to digital innovation, social responsibility, and customer service,
including being named one of the 2023 World’s Most Ethical
Companies. Learn more at usbank.com/about.
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Todd Deutsch, U.S. Bank Public Affairs & Communications
todd.deutsch@usbank.com | 612.303.4148
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