U.S. Bank Launches Mobile Payments for Visa Commercial Cards
U.S. Bank announced they will be the first financial institution to offer mobile payments for Visa Commercial Cards. Later this spring, U.S. Bank Corporate Travel Card clients will be able to pay for transactions using Apple Pay, Android Pay or Samsung Pay.
“Business travelers are increasingly expecting the same convenience and security in their business transactions as they experience with their personal transactions,” said Jeff Jones, president of U.S. Bank Corporate Payment Systems. “Consumer use of mobile payments is growing every day. Launching a corresponding capability for business travelers is the next logical step. This new functionality is a great compliment to our U.S. Bank Access® Online mobile app. Together, they become a powerful mobile toolkit for managing commercial card accounts on the go.”
U.S. Bank is offering this service to corporate customers, as mobile payments add a level of security to transactions. Mobile payments offer tokenization, which uses a unique number instead of sensitive credit card information to pay for goods and services. This reduces the chance of fraud since actual payment card details are not stored on the mobile device or at the retailer.
“More and more consumers are enjoying mobile payments in their personal life and expect to use the same easy ‘one handed’ payment solution when they are working and traveling in their professional life,” said Vicky Bindra, global head of Products and Solutions for Visa. “For this reason, we are thrilled to work with U.S. Bank to help enable the security and convenience of mobile payments to U.S. Bank corporate card customers.”