Thursday, Dec 8, 2022
International Finance
Banking

U.S. Bank mobile payment expands to Mastercard Business Travel Cards

U.S. Bank, U.S. Bancorp, Ed Glassman, Jeff Rankin, Tokenization, Mastercard, corporate card, Corporate Travel Card, contactless payments, mobile payments
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% from 2015 levels. 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. Tokenisation 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.

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